SOLUTION: CNM There Is Nothing so Practical than A Good Theory Discussion Responses

Your response should build upon the response of others. Some of the
questions are designed to solicit your personal viewpoint and others are
modeled to develop critical thinking. Use this as an opportunity to assert
your stance on how you would personally approach the issue at hand and,
although this is a graded component, have fun with it. If you disagree with
someone’s response, feel free to say that but make sure you substantiate
your reasons why. Consequently, if you agree with someone’s response,
you also need to identify reasons why.
No resources needed
100 words needed for each respond
post 1: What does the statement, “There is nothing so practical as a good theory” mean? Do you agree
with this statement?
To me, this statement means the importance of a theory. Without the practicality of the theory, it
may take longer to develop a hypothesis or answer the question “why”. But this can only be
practical if a theory has already been developed. If the theory does not exist, the amount of
research will more than double in size. But using other theoretical findings can advance the
development of the hypothesis. So, I agree that this statement is practical. But there could be
other situations where something is even more practical. Because practicality is the aspect of
usefulness. While there are many business theories, not all will be practical. Some may be useful,
and some may not be. But using the information given and theoretical knowledge, an
organization can advance faster than others.
Post 2 Find another definition of theory. How is the definition you found similar to this book’s
definition? How is it different?
According to Merriam-Webster the definition of a theory is “a plausible or scientifically
acceptable general principle or body of principles offered to explain phenomena”. In this
definition we can see that it is relating to the scientific theory that is used to explain why
something is the way it is. Meaning that the theory is generally accepted but is only used to
explain the aspect of that theory. In our textbook the definition is based on a prediction rather
than a phenomenon. They are similar in a way that they explain certain events. By using logical
test and past findings to come up with a theory. The example the book used was the theory of
supply and demand. Which helps logically understand the way the market may react in certain
situations. The definitions differ from their viewpoint on the theory. Meaning the MerriamWebster uses a scientifically acceptable principle while the book is based on past events
explaining a logical scenario. Both offer similar ways in how people approach certain situations.
Titman, S., Financial Management: Principles and Applications, 13th Ed., Pearson Ed., (2016),
Pg. 205.
post 3: Do a SWOT analysis for McDonald’s. What is its mission? What are its strengths and
weaknesses? What opportunities and environmental threats might it face over the next 10 years?
How could it prepare for these threats?
McDonald’s mission statement is as follows: “Our mission is to make delicious feel-good moments
easy for everyone” etc. They have more to say on their mission statement on their website but to
summarize, they are mostly focused on the conveniency of their company. They highlight the
swiftness of their business, the reliable locations they have, and the overall fair prices they offer on
their menu. Although, in my opinion, I believe the low prices may eventually get the best of them. A
weakness McDonalds could face is the guaranteed quality of their food. The lowpriced menu and abundancy of their operations can lead to carelessness and the decline of their
standards. Opportunities McDonalds could encounter would be possible sponsorships for other
companies. While sponsoring others McDonald’s is now marketed across more
viewers. Environmental threats McDonald’s could face soon or within 10 years is the health
concerns that surface when consuming food from McDonald’s. I believe as the world continues
to grow and evolve society is leaning toward a healthier lifestyle. For example, all over we can find
restaurants that offer vegan options or even gluten free menu items. These switched lifestyles can
be a threat to the customers of McDonald’s. To prepare for these threats, McDonald’s can continue
to offer some slight healthier choices and cross their fingers. The business does offer some small
healthier items, but they must constantly offer different choices to satisfy the changes in the
market. They can also rely on their low prices and hope that will help them compete for their
post 4: Do a SWOT analysis for McDonald’s. What is its mission? What are its strengths and
weaknesses? What opportunities and environmental threats might it face over the next 10 years?
How could it prepare for these threats?
The mission of McDonald’s is to be their customers favorite place to eat and drink. For their
strengths, they are on the lower end for pricing options when it comes to fast food. They’re also
convenient because of how fast they are and all the places they are located. Their weaknesses
consist of things like the negative opinions of their food being unhealthy and processed. Many
times this can displease customers to a point that they won’t eat there because of how bad they
see it affecting their body. The opportunities McDonald’s might see in the future are things like
the openings of new stores because of growing economies all around the world. environmental
threats they may face are things like restrictions on the pollution that may be coming with the
U.S President Joe Biden emphasizing so many climate policies now. Preparing for these threats
is easy if McDonald’s chooses to solve the problems before they confront them. There are many
ways to, not necessarily predict the future, but rather expect new restrictions to come and be
prepared on how you’re going to implement change for those new restrictions.
post 5: Choose a retailer that you believe could be, but is not yet, successful in other countries. Explain
why you think it could be successful.
A retail grocery store that first pops in my mind is farmers market. This Store holds mostly
grocery items but also carry human hygiene, dog hygiene and other handy household and kitchen
items. They also serve detergent which is the complete package of basic necessities for living. I
believe moving this country across boarders and over seas would increase its total revenue. They
would probably increase delivery expenses for 3rd party suppliers who delivered for their team.
People would be able to go in and find almost anything to maintain a healthy home. Plus they
have a decent food bar and good homeade tortillas.
post 6: Choose a retailer that you believe could be, but is not yet, successful in other countries. Explain
why you think it could be successful.
A retailer I believe could be, but is not yet, successful in other countries is Target. I live in Germany,
and I think that it is such a shame that there is no Target here. I think it would do quite well. Stores
like Target and Walmart don’t really exist here (or many other places in the world). Maybe there is a
good reason for this, but I think that it is a mistake on the company’s part. TJ Maxx now exists as TK
Maxx in Germany, and it does well (although many Germans complain about how messy it is). For this
reason, I think Target would be hugely successful. It is huge, like TJ Maxx, but is much tidier. Also, it is
so convenient and the brand’s image is recognizable.

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