Abstract
Last but not least. Governance may be the last of the Vested Five Rules, but it is perhaps the most important. Following the first four rules helps you get to a good agreement—but you have to manage it. If you do not manage it well, the consequences are costly. In fact, leading industry research found that poor governance can erode up to 90 percent of anticipated value.1
None of us is as good as all of us.
—Ray Kroc
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Notes
Ian R. MacNeil, Contracts: Instruments for Social Cooperation (South Hackensack, NJ: F. B. Rothman, 1968).
O. E. Williamson, “Outsourcing: Transaction Cost Economics and Supply Chain Management,” Journal of Supply Chain Management 44, no. 2 (2008): 5–16. Blackwell Publishing Inc. Retrieved from http://doi.wiley.com/10.1111/j.1745-493X.2008.00051.x.
John F. Love, McDonald’s: Behind the Golden Arches, rev. ed. (New York: Bantam Books, 1995), relates the widespread practice of the chain restaurant business during the 1950s. It concludes: “Having captive licensees as guaranteed buyers, franchisers needed to do little else than sit back and collect money.”
Peter Eisler, Blake Morrison, and Anthony DeBarros, “Fast-Food Standards for Meat Top Those for School Lunches,” USA Today, December 9, 2009, http://www.usatoday.com/news/education/2009-12-08-school-lunch-standards_N.htm.
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© 2012 Kate Vitasek and Karl Manrodt
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Vitasek, K., Manrodt, K., Kling, J. (2012). McDonald’s Secret Sauce for Supply Chain Success. In: Vested. Palgrave Macmillan, New York. https://doi.org/10.1007/978-1-137-51190-4_6
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DOI: https://doi.org/10.1007/978-1-137-51190-4_6
Publisher Name: Palgrave Macmillan, New York
Print ISBN: 978-0-230-34170-8
Online ISBN: 978-1-137-51190-4
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