Mcdonalds Corporation Is The Worlds Largest Chain Marketing Essay

Mcdonalds Corporation Is The Worlds Largest Chain Marketing Essay McDonalds Corporation is the worlds largest chain of fast food restaurants, serving nearly 47 million customers daily through more than 31,000 restaurants in 119 countries worldwide. McDonalds sells various fast food items and soft drinks including, burgers, chicken, salads, fries, and ice cream. Many McDonalds restaurants have included a playground for children and advertising geared toward children, and some have been redesigned in a more natural style, with a particular emphasis on comfort: introducing lounge areas and fireplaces, and eliminating hard plastic chairs and tables. Each McDonalds restaurant is operated by a franchisee, an affiliate, or the corporation itself. The corporations revenues come from the rent, royalties and fees paid by the franchisees, as well as sales in company-operated restaurants. McDonalds revenues grew 27% over the three years ending in 2007 to $22.8 billion, and 9% growth in operating income to $3.9 billion.  [1]   History analysis: The business began in 1940, with a restaurant opened by brothers Dick and Mac McDonald in San Bernardino, California. Their introduction of the Speedee Service System in 1948 established the principles of the modern fast-food restaurant. The original mascot of McDonalds was a man with a chefs hat on top of a hamburger shaped head whose name was Speedee. Speedee was eventually replaced with Ronald McDonald in 1963. The present corporation dates its founding to the opening of a franchised restaurant by Ray Kroc, in Des Plaines, Illinois on April 15, 1955 , the ninth McDonalds restaurant overall. Kroc later purchased the McDonald brothers equity in the company and led its worldwide expansion and the company became listed on the public stock markets in 1965. With the expansion of McDonalds into many international markets, the company has become a symbol of globalization and the spread of the American way of life. Its prominence has also made it a frequent topic of public debates about obesity, corporate ethics and consumer responsibility.  [2]   Vision To be the best and leading fast food provider around the globe Mission McDonalds brand mission is to be our customers favorite place and way to eat, and improve our operations to provide the most delicious fast food that meet our customers expectations. Values Our values summarized in Q.S.C. V.. Provide good quality, services to customer. Have a cleanliness environment when customer enjoys their meal. The value of food product makes every customer is smiling. Suppliers Substitutes Buyers Potential entrants Competitive rivalryThe Five Forces Framework The Threat of Entrants Large established companies with strong brand identities such as McDonalds BKC, YUM, and WEN do make it more difficult to enter and succeed within the marketplace; new entrants find that they are faced with price competition from existing chain restaurants. Bargaining Power of Buyers Low bargaining power of buyers. Bargaining power of suppliers Bargaining power of suppliers within the fast food industry would be relatively small, unless the main ingredient of the product is not readily available. Threat of Substitutes This could range from a competitive fast food restaurant to family restaurant to a home cooked meal. Competitive Rivalry The strength of competition in this industry is very high; the main rivals are BKC, YUM, and WEN. They compete with international, national, regional, local, retailers of food products (restaurants, quick service, pizza, coffee shops, and supermarkets). PESTEL Framework: Political: The international operations of McDonalds are highly influenced by the individual state policies enforced by each government. Economic: McDonalds has the tendency to experience hardship in instances where the economy of the respective states is hit by inflation and changes in the exchange rates. Market leader. Very high target market. Low cost and more incomes. The rate at which the economy of that particular state grows determines the purchasing power of the consumers in that country. Social: Working within many social groups. Increase employments. Technological Advanced technology development. Quality standards. Environmental: Quality packing. Local manufacture using foreign supplies. Legal: Legislation for product. Sustained logo. SWOT ANALYSIS Opportunities Threats Growing health trends among consumers Globalization, expansion in other countries (especially in China India). Diversification and acquisition of other quick-service restaurants. Growth of the fast-food industry. Worldwide deregulation. Low cost menu that will attract the customers. Freebies and discounts. Health professionals and consumer activists accuse McDonalds of contributing to the countrys health issue of high cholesterol, heart attacks, diabetes, and obesity. The relationship between corporate level McDonalds and its franchise dealers. McDonalds competitors threatened market share of the company both internationally and domestically. Anti-American sentiments. Global recession and fluctuating foreign currencies. Fast-food chain industry is expected to struggle to meet the expectations of the customers towards health and environmental issues. Strength Weakness Strong brand name, image and reputation. Large market share. Strong global presence. Specialized training for managers known as the Hamburger University. McDonalds Plan to win focuses on people, products, place, price and promotion. Strong financial performance and position. Unhealthy food image. High Staff Turnover including Top management Customer losses due to fierce competition. Legal actions related to health issues; use of trans fat beef oil. Uses HCFC-22 to make polystyrene that is contributing to ozone depletion. Ignoring breakfast from the menu. COMPARISION McDonalds Burger King Yum Brands Wendys Critical Success Factors Weight Rating Weighted Score Rating Weighted Score Rating Weighted Score Rating Weighted Score Price 0.15 4 0.60 3 0.45 3 0.45 3 0.45 Financial Position 0.08 4 0.32 3 0.32 3 0.24 2 0.16 Consumer Loyalty 0.10 4 0.40 3 0.40 3 0.30 2 0.20 Advertising 0.10 3 0.30 3 0.30 4 0.40 2 0.20 Product Quality 0.10 4 0.40 3 0.40 4 0.40 2 0.20 Innovation 0.15 3 0.45 3 0.45 3 0.45 2 0.30 Market Share 0.10 4 0.40 2 0.20 3 0.30 2 0.20 Management 0.07 4 0.28 3 0.21 3 0.21 3 0.21 Global Expansion 0.15 4 0.60 2 0.30 3 0.45 1 0.15 Total 1 3.75 3.03 3.20 2.07 External Factor Evaluation (EFE) Matrix Key External Factors Weight Rating Weighted Score Opportunities Growing health trends among consumers 0.08 3 0.24 Globalization, expansion in other countries (especially in China India). 0.12 4 0.48 Diversification and acquisition of other quick-service restaurants. .04 3 0.12 Growth of the fast-food industry. .10 3 0.30 Worldwide deregulation .04 2 0.08 Low cost menu that will attract the customers. .08 2 0.16 Freebies and discounts. .08 1 0.08 Threats Health professionals and consumer activists accuse McDonalds of contributing to the countrys health issue of high cholesterol, heart attacks, diabetes, and obesity. 0.10 3 0.30 The relationship between corporate level McDonalds and its franchise dealers. 0.09 3 0.27 McDonalds competitors threatened market share of the company both internationally and domestically. 0.12 4 0.48 Anti-American sentiments. .07 2 .14 Global recession and fluctuating foreign currencies. .04 3 .12 Fast-food chain industry is expected to struggle to meet the expectations of the customers towards health and environmental issues. .04 2 .08 Total 1.00 2.85 Financial Ratio Analysis 12/2007 Growth Rates % McDonalds Industry SP 500 Sales (Qtr vs year ago qtr) -3.30 4.20 -3.80 Net Income (YTD vs YTD) 84.70 47.90 8.40 Net Income (Qtr vs year ago qtr) -22.60 -59.90 -94.80 Sales (5-Year Annual Avg.) 6.53 8.14 13.26 Net Income (5-Year Annual Avg.) 23.39 15.30 14.45 Dividends (5-Year Annual Avg.) 32.36 22.36 12.30 Price Ratios Current P/E Ratio 14.7 14.2 13.0 P/E Ratio 5-Year High N/A 9.5 12.5 P/E Ratio 5-Year Low N/A 4.7 2.0 Price/Sales Ratio 2.62 1.88 1.47 Price/Book Value 4.62 3.54 3.00 Price/Cash Flow Ratio 11.20 10.00 9.00 Profit Margins % Gross Margin 36.7 32.1 39.4 Pre-Tax Margin 26.2 17.2 13.2 Net Profit Margin 18.3 12.0 9.1 5Yr Gross Margin (5-Year Avg.) 33.9 33.3 39.1 5Yr PreTax Margin (5-Year Avg.) 19.8 14.2 16.6 5Yr Net Profit Margin (5-Year Avg.) 13.7 9.8 11.45 Financial Condition Debt/Equity Ratio 0.76 .80 1.03 Current Ratio 1.4 1.2 1.4 Quick Ratio 1.3 1.1 1.1 Interest Coverage N/A 1.2 29.9 Leverage Ratio 2.1 -5.3 1.9 Book Value/Share 12.00 10.00 19.75 Investment Returns % Return On Equity 32.2 44.4 27.9 Return On Assets 14.9 11.3 8.1 Return On Capital 17.0 13.7 11.2 Return On Equity (5-Year Avg.) 19.7 22.8 20.6 Return On Assets (5-Year Avg.) 10.0 8.98 8.5 Return On Capital (5-Year Avg.) 11.4 11.0 11.5 Management Efficiency Income/Employee 10,783 9,401 91,499 Revenue/Employee 58,806 98,207 1,000,000 Receivable Turnover 23.7 44.7 15.8 Inventory Turnover 125.7 98.7 12.3 Asset Turnover 0.8 1.1 1.0 Internal Factor Evaluation (IFE) Matrix Key Internal Factors Weight Rating Weighted Score Strengths Strong brand name, image and reputation. 0.12 4 0.48 Large market share. 0.10 4 0.40 Strong global presence. 0.04 3 0.12 Specialized training for managers known as the Hamburger University. 0.04 3 0.12 McDonalds Plan to Win focuses on people, products, place, price and promotion 0.12 4 0.48 Strong financial performance and position. 0.08 4 0.32 Introduction of new products. 0.06 4 0.24 Customer focus (centric). 0.06 4 0.24 Strong performance in the global marketplace. 0.08 4 0.32 Weaknesses Unhealthy food image. 0.08 1 0.08 High Staff Turnover including Top management 0.04 1 0.10 Customer losses due to fierce competition. 0.04 1 0.04 Legal actions related to health issues; use of trans fat beef oil. 0.04 2 0.08 McDonalds uses HCFC-22 to make polystyrene that is contributing to ozone depletion. 0.04 2 0.08 Ignoring breakfast from the menu. 0.06 1 0.06 Total 1.00 3.16 SPACE Matrix Financial Strength Rating Environmental Stability Rating Return on investment 4 Rate of inflation -3 Leverage 4 Demand Changes -3 Net Income 6 Price Elasticity of demand -1 EPS 5 Competitive pressure -3 ROE 5 Barriers to entry new markets -3 Cash Flow 4 Risk involved in business -2 Average 4.67 Average -2.5 Y-axis 2.17 Competitive Advantage Rating Industry Strength Rating Market share -1.00 Growth potential 5 Product Quality -1.00 Financial stability 5 Customer Loyalty -1.00 Ease of entry new markets 4 Control over other parties -2.00 Resources utilization 4 Profit potential 5 Demand variability 3 Average -1.25 Average 4.33 X-axis 3.08 Directional vector point is 🙠 3.08, 2.17) Conservative Aggressive Competitive Defensive FS IS CA ES Grand Strategy Matrix Quadrant II Quadrant I Quadrant IV Quadrant III Rapid Market Growth Strong Competitive Position Weak Competitive Position Slow Market Growth The Boston Consulting Group (BCG) Matrix Question Marks Cash Cows Dogs Relative Market Share Position Industry Sales Growth Rate Stars MCD The Internal-External (IE) Matrix The IFE Total Weighted Score Strong Average Weak 3.0 to 4.0 2.0 to 2.99 1.0 to 1.99 III II I High 3.0 to 3.99 VI V IV The EFE Total Weighted Score McDonaldsMedium 2.0 to 2.99 IX VIII VII Low 1.0 to 1.99 The Quantitative Strategic Planning Matrix (QSPM) Strategy 1 Expand further in Asia by adding 500 restaurants Strategy 2 Applying 0 grams Trans fat in all worldwide McDonalds restaurants Key Internal Factors Weight AS TAS AS TAS Strengths   Strong brand name, image and reputation 0.12 4 0.48 4 0.48 Large market share 0.10 4 0.40 2 0.20 Strong global presence 0.04 4 0.12 2 0.08 Specialized training for managers known as the Hamburger University 0.04 McDonalds Plan to Win focuses on people, products, place, price and promotion 0.12 4 0.48 4 0.48 Strong financial performance and position 0.08 4 0.32 4 0.32 Introduction of new products 0.06 Customer focus (centric) 0.06 1 0.06 4 0.24 Strong performance in the global marketplace 0.08 3 0.24 1 0.08 Weaknesses Unhealthy food image 0.08 1 0.08 4 0.32 High Staff Turnover including Top management 0.10 Customer losses due to fierce competition 0.04 3 0.12 1 0.04 Legal actions related to health issues; use of trans fat beef oil 0.04 1 0.04 4 0.16 Uses HCFC-22 to make polystyrene that is contributing to ozone depletion 0.04 SUBTOTAL 1.00 2.34 2.40 Strategy 1 Expand further in Asia by adding 500 restaurants Strategy 2 Applying 0 grams Trans fat in all worldwide McDonalds restaurants Key External Factors Weight AS TAS AS TAS Opportunities Growing health trends among consumers 0.08 1 0.08 4 0.32 Globalization, expansion in other countries (especially in China India) 0.12 4 0.48 1 0.12 Diversification and acquisition of other quick-service restaurants 0.04 Growth of the fast-food industry 0.10 4 0.40 4 0.40 Worldwide deregulation 0.04 4 0.16 1 0.04 Low cost menu that will attract the customers 0.08 Freebies and discounts 0.08 Threats Health professionals and consumer activists accuse McDonalds of contributing to the countrys health issue of high cholesterol, heart attacks, diabetes, and obesity 0.10 1 0.10 4 0.40 The relationship between corporate level McDonalds and its franchise dealers 0.09 4 0.36 1 0.09 McDonalds competitors threatened market share of the company both internationally and domestically 0.12 4 0.48 4 0.48 Anti-American sentiments 0.07 Global recession and fluctuating foreign currencies 0.04 Fast-food chain industry is expected to struggle to meet the expectations of the customers towards health and environmental issues 0.04 1 0.04 4 0.16 SUBTOTAL 1.00 2.10 2.01 SUM TOTAL ATTRACTIVENESS SCORE 4.44 4.41 . Conclusion McDonalds faces some difficult challenges. Key to its future success will be maintaining its core strengths-an unwavering focus on quality and consistency-while carefully experimenting with new options. These innovative initiatives could include launching higher-end restaurants under new brands that wouldnt be saddled with McDonalds fast-food image. The company could also look into expanding more aggressively abroad where the prospects for significant growth are greater.   The companys environment efforts, while important, should not overshadow its marketing initiatives, which are what the company is all about. Recommendations Expand further into Asia markets over a 2-year period by adding 500 restaurants per year at a cost of $4 billion annually, and applying 0 grams Trans fat in all worldwide McDonalds restaurants.

Planning: A Key Factor in the Success of a Business

Planning is a key factor in the success of any business, and conversely, the failure to plan adequately is one of the fastest routes to business failure. There are many considerations that an entrepreneur must decide such as: type of business, legal structure, permits and licenses, market planning, business plan, location, organization management planning, business telephone line, mission statement, and a business checking account. There are many sources of information to help to start a business in an organized way, such as a business plan from the office of Economic Development & Planning located in the County Office Building, or books in that can be found in any library. The first decision that the entrepreneur must make is what type of business he/she wants to start. The decision should be based on the amount of knowledge and skill that they have in the field that they are considering. The better that they know the industry, the stronger there likelihood they will have a successful business, and the better base they will have for the rest of the decisions that will have to be made in the time to come. The next important decision in the business planning process is the legal structure of the company. The three legal structures are Sole-proprietorship, Partnership and a Corporation. Each one of these legal structures has its advantages and disadvantages. The different aspects that each legal structure differs are: management control, capital, liability, income taxes, business continuity, and government regulations. The understanding of these different issues is crucial to the decision of which structure is the best one for the entrepreneurs business. Be sure to consult an attorney before making this decision. In a sole-proprietorship, the owner retains total control of all the decisions that need to be made. The ability to raise capital is limited by the financial resources and the credit worthiness of the individual owner. The owner has the ultimate liability for all the actions and debts of the business. A sole-proprietorship is not a separate taxable entity. The individual owner reports business revenue, expenses and net income (or loss) on his/her individual tax return (form 1040). The business ends with death of owner unless previously sold or transferred. The government has very limited regulations, and few records are legally required. A D.B.A. (Doing Business As) form is available at most office supply stores or at a County Department of Economic Development office, which also requires a small fee. Completed form with notarized signatures must be filed with the County Clerk†s Office. In a partnership, the control is shared by the partners in accordance with the partnership agreement. If there are two partner†s the agreement does not have to be fifty-fifty. It can be what ever the two decide on in the beginning. The ability to raise capital is expanded somewhat as partners are able to pool their respective financial resources. Both partners have joint and several liabilities for actions and debts of partnership. The partnership is not a separate taxable entity. An information return (form 1065) must be filled out each year to report partnership activity; however, individual partners report their respective shares of income (or loss) personally. The business ends with death of a partner unless written partnership agreement contains transfer conditions. The government has limited regulation and few records are required. They should have a partnership agreement, which is available at most office supply stores or at the local County Department of Economic Development office. Completed form with all signatures notarized must be filed with the County Clerk†s Office. It is advisable to consult a lawyer about a partnership agreement before filing the certificate. With a corporation, the day-to-day control rests with the hired management team. Ultimately control is vested with the Board of Directors who are influenced through the voting process by the shareholders. The ability to raise capital is potentially greatly expanded because additional shares of stock may be sold. The liability of the individual shareholders for actions and debts of the Corporation is limited to their equity investment. A C Corporation is a separate taxable entity (form 1120 is required to be filled out). An S Corporation is taxed essentially like a partnership. An information return (form 1120s) must be filled out. The business has a perpetual life distinct from that of its owners. The shares of stock are freely transferable. The government treats a Corporation as a separate legal and taxable entity, and extensive record-keeping is required. There are also complex operating regulations to follow (which differ from state to state). Forms to incorporate are available at any office supply store and should be filed with the Secretary of State in Albany (518-474-6200) if planned start up is in New York State. Licenses and permits are grants of authority from the Federal, State and local political subdivisions to individuals, corporations or partnerships to carry on certain activities. Licenses often involve the payment of fees and proof of qualification by examination. Legally, it is up to you (the business owner) to know if your business requires licensing. Before you start a project, carefully research the applicable state and local laws. For local licenses and permits contact the village/town hall and the county office for local requirements. If you plan to operate a business in your own home, check to make sure you are not in violation of local zoning ordinances. For a construction company the owner or contractor will need to have specific permits and licenses for each job. A call to the County Clerk†s office gets you started with local government. Depending on your plans, you may also need to check with your local planning board, zoning board and building inspector. For construction jobs it is advisable that you check with the DOT regional office in the area of the project to determine if any permits may be necessary for your particular job. There are many occupations in which various governmental agencies and privately owned businesses require the worker to have a license before he/she can work on the project. Each year there will be fewer trades people, contractors, ect., that will need to be licensed. In the years to come it must be expected that all contractors, trades persons, etc. will be required to be licensed by government authority. The majority of cities in the United States require the trades people to be licensed to conduct their business. As the business owner and the employer it is your responsibility to determine if a licensed operator is required for the job. If a license is required you must assure that only a properly licensed person performs the job. The failure to make sure that the employee has the correct license for the job can result in severe penalties and possible imprisonment. It is generally required that in larger cities workers such as carpenters, plumbers, welders, truck drivers, crane operators, heavy equipment operators, masons, steel erectors, laborers, etc., all have the proper licenses. Some licenses are state issued and are required in order to work any place in the state (crane operators, truck drivers, etc.).

Diffusion across a Selectively Permeable membrane Essay

Introduction: Diffusion is movement of molecules from one area of concentration to another. This process is vital for the life functions of cells. Cells have selectively permeable membranes that allow only certain solutions to pass through them. Osmosis is a special kind of diffusion that allows water to go through semi-permeable membranes of high water potential to a region of lower water potential. Water potential measures the tendency of water to leave one place and into another. Diffusion and osmosis is responsible for the movement of molecules in and out of cells. Diffusion and osmosis can be shown using dialysis tubing which is a membrane that is made of regenerated cellulose fibers into a flat tube. When solutions that contain dissolved substances, are separated by a membrane like the dialysis tubing, some may readily pass through it and others may not due to the size of the molecules. Hypothesis: Diffusion and osmosis will occur once dynamic equilibrium is reached. If a substance contains molecules small enough to pass through a selectively permeable membrane then they will readily pass through it without the solution or substance, which is inside the membrane, getting out. Materials: String Starch Solution I2KI Solution Plastic cup Disposable transfer pipettes Strips of dialysis tubing soaked in water Timer Scale Method: First you will have your dialysis tubing soaked in water ready for the experiment. Once the dialysis tubing in being soaked, wash your hands to get rid of any oils or dirt that may be on them. Remove the tubing from the water and tie off one end. Open the other end using two fingers in a rubbing motion so that the tubing will separate and open. Use a disposable pipette to fill the tubing with starch solution. Once the tubing is filled leave a bit of space so that expansion may occur and tie off the end and place the tubing on the scale to see how much it weighs. Fill the cup with distilled water and add I2KI solution to the water. Place the tubing inside the cup for 30 minutes and record any color change. Record the color change of the bag every 5 minutes until 30 minutes have passed. Take the tubing out of the water solution and place on the scale and record any weight change. Data: Solution sourceOriginal ContentsOriginal colorOriginal Weight5 min color15 min color25 min color30 min colorFinal weightFinal Contents BagWater 1% starchWhite/ milky10gWhite slightly blueMilky inside darker blue Darker blue some white visibleDarker blue no white visible11gWater 1% starch + iodine BeakerWater, I2KIAmber yellowN/AAmber YellowAmber YellowAmber YellowAmber YellowN/AWater and iodine Results: The results show that the water, glucose, and I2KI molecules were small enough to pass through the selectively permeable membrane which was the dialysis tubing. I would expect for the color change to occur in the cup instead of inside of the tubing if we had started with the starch in the cup and the I2KI inside the tubing, because the iodine would instead of going into the bag, would leave through the bag and into the starch inside the cup. Discussion and conclusion: The data shows what molecules can and cannot diffuse across a selectively permeable membrane. The color change that occurred showed that the I2KI molecules were small enough to pass through the pores of the membrane or dialysis tubing. This data also shows that the water and glucose solution moved out of the dialysis bag because water molecules are small enough to pass through the membrane. No mistakes were made in this experiment but many could have occurred. If the tubing was not tied correctly a leak could have occurred and the experiment would have failed and been inaccurate. References: â€Å"Diffusion and Osmosis.† Diffusion. N.p., n.d. Web. 19 Mar. 2014 â€Å"Diffusion.† And Osmosis. N.p., n.d. Web. 20 Mar. 2014. â€Å"Osmosis.† Osmosis. N.p., n.d. Web. 19 Mar. 2014.

Essential Facts You Need to Know About Planet Earth

Earth is unique among the planets of our solar system; its particular conditions have given rise to all sorts of life, including millions of plant and animal species. The planet is incredibly diverse—it has tall mountains and deep valleys, humid forests and arid deserts, warm climates and cold. Its 195 countries are home to over 7.5 billion people. Key Takeaways: Planet Earth †¢ The third planet from the Sun, Earth has a unique physical and chemical composition that allows it to support a huge range of plant and animal life.†¢ Earth takes about 24 hours to complete one full rotation and about 365 days to complete one full revolution around the Sun.†¢ Earths highest recorded temperature is 134 degrees Fahrenheit, and its lowest is minus 128.5 degrees Fahrenheit. Circumference Measured at the equator, the circumference of the Earth is 24,901.55 miles. However, the Earth is not quite a perfect circle, and if you measure through the poles, the circumference is a bit shorter—24,859.82 miles. The Earth is a bit wider than it is tall, giving it a slight bulge at the equator; this shape is known as an ellipsoid, or, more properly, a geoid. The Earths diameter at the equator is 7,926.28 miles, and its diameter at the poles is 7,899.80 miles. Rotation on Axis It takes the Earth 23 hours, 56 minutes, and 04.09053 seconds to complete a full rotation on its axis. However, it takes an additional four minutes for the Earth to revolve to the same position as the day before, relative to the sun (i.e. 24 hours). Revolution Around the Sun The Earth takes 365.2425 days to complete a full revolution around the Sun. A standard calendar year, however, is only 365 days. To correct for the drift, an additional day, known as a leap day, is added to the calendar every four years, thereby ensuring that the calendar year remains in sync with the astronomical year. Distance to the Sun and Moon Because the Moon follows an elliptical orbit around the Earth, and because the Earth follows an elliptical orbit around the Sun, the distance between Earth and these two bodies varies over time. The average distance between the Earth and the Moon is 238,857 miles. The average distance between Earth and the Sun is 93,020,000 miles. Water vs. Land Earth is 70.8 percent water and 29.2 percent land. Of this water, 96.5 percent is found within the Earths oceans, and the other 3.5 percent is found within freshwater lakes, glaciers, and polar ice caps. Chemical Composition The Earth is composed of 34.6 percent iron, 29.5 percent oxygen, 15.2 percent silicon, 12.7 percent magnesium, 2.4 percent nickel, 1.9 percent sulfur, and 0.05 percent titanium. Earths mass is about 5.97 x 1024 kilograms. Atmospheric Content Earths atmosphere is composed of 77 percent nitrogen, 21 percent oxygen, and traces of argon, carbon dioxide, and water. The five main layers of the atmosphere, from lowest to highest, are the troposphere, stratosphere, mesosphere, thermosphere, and exosphere. Highest Elevation The highest point on Earth is Mount Everest, a Himalayan peak that reaches 29,035 feet above sea level. The first confirmed ascent of the mountain took place in 1953. Tallest Mountain From Base to Peak Earths tallest mountain as measured from base to peak is Mauna Kea in Hawaii, which measures 33,480 feet. The mountain reaches 13,796 feet above sea level. Lowest Elevation on Land Earths lowest point on land is Israels Dead Sea, which reaches 1,369 feet below sea level. The sea is known for its high salt content, which allows swimmers to practically float in the water. Deepest Point in the Ocean Earths lowest point in the ocean is a section of the Mariana Trench known as Challenger Deep. It reaches 36,070 feet below sea level. High water pressure in this area makes exploring it very difficult. Highest Temperature The highest recorded temperature on Earth is 134 degrees Fahrenheit. It was recorded at Greenland Ranch in Death Valley, California, on July 10, 1913. Lowest Temperature The lowest recorded temperature on Earth is minus 128.5 degrees Fahrenheit. It was recorded at Vostok, Antarctica, on July 21, 1983. Population As of December 2018, the world population is estimated to be 7,537,000,0000. The most populous countries are China, India, the United States, Indonesia, and Brazil. Annual global population growth as of 2018 is estimated to be about 1.09 percent, which means that the population is increasing by 83 million people per year. Countries There are 195 countries in the world including the Holy See (the city-state of the Vatican) and the State of Palestine, both of which are recognized by the United Nations as non-member observer states. The worlds newest country is South Sudan, which was founded in 2011 after breaking away from the Republic of Sudan.