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In the 1980’s McDonald’s had an idea for a new product, the chicken McNuggets, but they were facing a problem with launching this product because of an issue with its pricing.
The problem was in the volatility of chicken prices on the market everyday. If McDonald’s is to launch a product and add it to their menus across all restaurants, they cannot go and change the price of this product on the menu, eveytime the price of chicken increases on the market. And if they don’t change the price and charge more while they’r sourcing the chicken for more, at some point they will be selling the product at negative margin and losing on every McNugget they sell.
To solve this problem they consulted Ray Dalio, and if you’re not familiar with Ray Dalio, he’s the founder of Bridgewater Associates, which is now the biggest hedge fund in the world.
Ray Dalio started thinking of a way to fix the price of chicken, so McDonald’s can price and launch the product.
Image Source: Grameen America, CC BY 3.0 creativecommons.org/licenses/..., via Wikimedia Commons
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