Explain the Concept of McDonaldization

question 20

Essay

Explain the concept of McDonaldization.Why is it called "McDonaldization"? What are the four characteristics that define this process? Describe concretely how each of the four characteristics has worked in fast food.

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Definitions:

Amortize

To amortize means to gradually reduce or write off the initial cost of an asset over a period, typically through regular payments covering interest and principal.

Non-Controlling Interest

A share of equity ownership in a subsidiary not attributable to the parent company, representing the portion of the subsidiary's net assets and net income not owned by the parent.

Subsidiary

A company that is controlled by another company, known as the parent company, through ownership of more than 50% of its voting stock.

Interest Revenue

Income earned on investments or money lent, represented by the amount charged to borrowers for the use of the lender's funds.