Ray Kroc (1902–1984) Flashcards
Who is Ray Kroc?
The entrepreneur who expanded McDonald’s into a global fast-food empire.
When and where was Ray Kroc born?
October 5, 1902, in Oak Park, Illinois.
What business model did Ray Kroc perfect at McDonald’s?
The franchise model.
What key symbol became synonymous with McDonald’s under Ray Kroc’s leadership?
The Golden Arches.
Who originally founded the first McDonald’s restaurant?
The McDonald brothers, Richard and Maurice McDonald.
How did Ray Kroc revolutionize fast food?
By standardizing operations and implementing a scalable franchise model.
At what age did Ray Kroc find success with McDonald’s?
At the age of 52.
Why was the post-World War II era significant for McDonald’s success?
The era saw economic growth, suburban expansion, and the rise of car culture, which increased demand for quick, affordable meals.
What was Ray Kroc’s major contribution to business management?
Standardization of franchise operations for consistency across all locations.
What industry did Ray Kroc help create?
The fast-food industry.
What major challenge did Ray Kroc face with the McDonald brothers?
Disagreements over the company’s future vision, leading Kroc to buy them out.
What year did Ray Kroc buy out the McDonald brothers?
1961.
What is Ray Kroc’s legacy in the business world?
He transformed McDonald’s into one of the largest and most recognizable fast-food chains globally.
How is Ray Kroc’s approach to McDonald’s studied today?
As a model for successful franchising and business operations.
Why was Kroc’s purchase of the McDonald brothers controversial?
He bought them out for $2.7 million, which later seemed undervalued given the company’s enormous success.