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Ray Kroc

Published on Nov 18, 2015

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PRESENTATION OUTLINE

Ray Kroc

Entrepreneur

facts

  • Hometown: Oak Park, Illinois
  • October 5, 1902 - January 14, 1984
  • Parents were Czechoslovakian
  • Two siblings, Robert and Lorraine Kroc.
  • Dropped out of Oak Park and River Forest High
Photo by Editor

Before Mcdonald's

  • Paper Cup Salesman
  • Pianist
  • DJ for local hometown radio station
  • Restaurant Worker 
  • Milkshake Machine Salesman
Photo by jonlclark

Ray Kroc became an entrepreneur because he had the ability to recognize potential!

While working as a milkshake machine salesman, Ray Kroc met the McDonald brothers who wished to purchase some machines to increase restaurant production.

When he saw McDonald's, he realized the restaurant had the ability to become very successful; this is when he saw the improvements he could implement in order to develop his entrepreneurial business.

Kroc evolved into an entrepreneur over time because of his willingness to commit to hard work, his innovative mentality, and his dedication to his business.

mcdonalds takes off

Ray Kroc did not found his own entrepreneurial business; instead, he took a risk and implemented strategic innovations that led to the explosion of success his business achieved.

Kroc's Innovations

  • Hamburger University
  • Certified Employee Requirements
  •  Management Manual
Hamburger University was created by Kroc in 1961 in order to ensure that McDonald's employees were capable and proficient at all restaurant tasks. Thus increasing the efficiency of and quality of his restaurants.

Ray Kroc also wrote a seventy-five page management manual dictating exactly how each franchise was to be run. The manual included: how the restaurant was to be cleaned, the thickness of the hamburgers and the exact amount of topping

Entrepreneurial ROles

  • Risk Taker
  • Spark Plug
  • Strategist 
  • Innovator
1. Risk Taker: When Ray Kroc realized the potential that the McDonald's business had to grow and develop, and how much potential he could harness monetarily from the business, he came into the role of an entrepreneurial risk taker. Kroc did not allow the risks of failing outweigh the potential benefits the business could provide.

2. Spark Plug: Once Kroc began developing his business, he supplied the motivation and confidence his employees needed to help him manage his restaurants.

3. Strategist: In order to improve McDonald's, Ray Kroc had to develop and expand upon his business. This means that he had to strategize ways he could make his restaurants more efficient, higher quality, and just generally excellent in terms of service.

4. Innovator: Once Kroc developed ways to improve upon McDonald's he became an innovator-he implemented new services which would turn his strategies into realities.
Photo by Thomas Hawk

Entrepreneur kroc Traits

  • Ambition
  • Self-Confidence
  • Energy & Self-Discipline
  • Problem-Solving Abilities
Ambition: the drive and determination behind the hard work and dedication of an entrepreneur- the motivating force. Ray Kroc was most certainly ambitious due to his relentless work ethic that built the his company.

Self-Confidence: Ray Kroc was sure of himself. Had he not been certain of his abilities to develop the McDonald's Corporation he would not have been a risk taker or an entrepreneur.

Energy and Self-Discipline: McDonald's was not built in a day. Ray Kroc had to put in full days and full nights in order to develop and accomplish the innovative services his business needed in order to become successful. It was due to his self-discipline that he put in these demanding and strenuous hours; no one else was going to make him do it.

Problem-Solving Abilities: Ray Kroc did not give up. In 1955, his first year in selling McDonald's franchises, it cost him more to keep the business running than it cost to shut it down! But what did Kroc do? He developed services to boost business!

Entrepreneur kroc Traits

  • Ambition
  • Self-Confidence
  • Energy & Self-Discipline
  • Problem-Solving Abilities
Ambition: the drive and determination behind the hard work and dedication of an entrepreneur- the motivating force. Ray Kroc was most certainly ambitious due to his relentless work ethic that built the his company.

Self-Confidence: Ray Kroc was sure of himself. Had he not been certain of his abilities to develop the McDonald's Corporation he would not have been a risk taker or an entrepreneur.

Energy and Self-Discipline: McDonald's was not built in a day. Ray Kroc had to put in full days and full nights in order to develop and accomplish the innovative services his business needed in order to become successful. It was due to his self-discipline that he put in these demanding and strenuous hours; no one else was going to make him do it.

Problem-Solving Abilities: Ray Kroc did not give up. In 1955, his first year in selling McDonald's franchises, it cost him more to keep the business running than it cost to shut it down! But what did Kroc do? He developed services to boost business!

ENTREPRENEUR KROC TRAITS

  • Organizational Skills
  • Ability to Motivate Others
Organizational Skills: Throughout the course of his business, Kroc had completed countless business transactions; transactions of which all had to be documented and stored for later reference. If it were not for his organizational skills, Kroc would have lost his entire business due to confusions financially and corporally deriving from disorganization.

Ability to Motivate Others: Last but not least, Kroc had to build up around himself a team of staff that would not only support him in his business endeavors but a staff that would also work hard for his business because they believed in its success. In order to gain public faith in his business, Kroc had to motivate others and persuade them to join his company by showing them how successful McDonald's could be.