1) You read about an entrepreneur:
- What surprised you the most?
The fact that McDonalds was actually started by the McDonald brothers and Ray Kroc basically took advantage of them and the McDonald brothers hated him for it.
- What about the entrepreneur did you most admire?
His vision. Not very many people would have the ability to see what the tiny McDonalds chain could become with the implementation of franchising.
- What about the entrepreneur did you least admire?
How much he manipulated people. He really screwed over the McDonald brothers and he seems very power-hungry which is not necessarily a likable trait
- Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
Yes. Ray Kroc tried to build upscale restaurants, pie shops, and theme parks, but he failed at all of these endeavors. He responded by focusing on what was actually working and building that up.
2) What competencies did you notice that the entrepreneur exhibited?
Ray Kroc had great vision. From when McDonald's was just one fast-food stop, he could see a future where everyone in the nation and even the world would be able to enjoy McDonald's hamburgers.
3) Identify at least one part of the reading that was confusing to you.
It goes into detail about the franchising and all of the different financial aspects and those were a bit confusing to me.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
First I would ask him if he feels bad about what he did to the McDonald's brothers, that he didn't give him the money that he promised. Since he's been dead for a while I could ask him if the McDonald's as it exists today is consistent with his vision long ago.
5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
Ray Kroc absolutely believed in hard work and dedication. He was always working, always thinking about his restaurants and what the next best thing could be. I have a lot of respect for hard work and I strive to be a hard worker myself.
It’s interesting to learn about the background of McDonald’s. I never knew about their history on how they started their business. Ray Kroc seemed to be a hard-working individual although he did screw over the original McDonald’s brothers. I wish I would be able to know the answers to your questions. I wonder if he has any regrets towards the way he got McDonald’s to be the way it is today. If so, what would he do differently? I guess we’ll never know.
ReplyDeleteRyan,
ReplyDeleteI had no idea Ray Kroc tried other business ventures like a pie shop, theme parks and upscale restaurants. I've, of course, only ever known of his success with McDonald's. I also didn't know he had such a rocky relationship with the McDonald brothers and actually didn't practice good business with him. But, it is amazing to see what a global giant McDonald's has become. I would love to sit down with Kroc and ask him what it takes to come up with an idea to build a brand like that. I also wonder if how the restaurants operate now is different or the same of what he envisioned his restaurants would be like. I wrote my reflection on biography about Steve Jobs and him and Kroc seem to have similar traits.
Sounds like a great book! I saw the movie that just came out on him and I agree with you on how his use of manipulation was not the most ethical. However, I do think you can see it as a personality trait of determination and passion. He defied all odds and now has created one of the most recognizable brands in the world. If i were to meet him, I would love to ask him if he ever felt like giving up. If he did, when did he feel that and how did he get through it.
ReplyDeleteHi Ryan, I think your perspective of Ray Kroc is interesting. You wrote that he took advantage of the McDonald's brothers but when I read his autobiography I got the impression that he seized an opportunity that the McDonald's brothers didn't have an interest in. But of course there are always 3 sides to every story. I personally don't think he took advantage in a bad way.
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