McDonald’s financial and accounting problems seem to decline over time, returning the company to the top in terms of total revenue. According to Raj and Singh, this company became successful due to attaining “customer satisfaction through fast service, quality food, a clean environment, and affordable prices together with a good supplier relationship.” It is essential to evaluate McDonald’s current progress and strategies to forecast its future development and performance. Forecasting is performed in seven stages: identifying periods, formulating goals, deterring methods, highlighting indicators for each objective, data collection, developing a forecast, and implementing analysis results.
The three methods that can be used for the scientific prediction of the company’s future financial results are deterministic, stochastic, and expert assessment. Applying the deterministic technique requires analyzing the available information about the company’s financial situation, while the stochastic is a causal technique that predicts various relationships between different data. Considering the positive trend in McDonald’s net sales, the commercial state will continue to grow in the next five years, provided the same approach and work ethic will be maintained.
Forecasting is essential for business because it allows to prevent catastrophic failures and achieve success. My prediction from the previous answer states that McDonald’s will maintain the same pace of growth in the next five years. It will not be lower if the restaurants will continue to provide high-quality service to the customers. However, I think that it cannot be higher than the current growth because of external factors such as the economic crisis and the ongoing COVID-19 pandemic. Thus, I believe it will require at least five years to recover from the global crisis and return to normal accelerated development. Still, this forecast is not entirely accurate because it is based on the analysis of the company’s present performance and the overall situation in the world.