CEO, and Owner of Parrish McDonald’s Restaurants, LTD

Roland Parrish is the President, CEO, and Owner of Parrish McDonald’s Restaurants, LTD., which consists of 19 McDonald’s franchises in North Texas.  He opened his first restaurant in 1989.  The last two years his company has been named to Black Enterprise magazine’s BE 100, as one of the Top 100 Black Owned Businesses in the U.S., based on sales volume.

Which courses have you relied on to propel you through your career?

Accounting: Financial Accounting  in Corporate America. Managerial Accounting and Financial Accounting as an

Entrepreneur

Finance (understanding the DCF model and how to evaluate the purchase price of a business)

Organizational Behavior  

Economics

What made you decide to become an entrepreneur?

Exxon was the largest company in the world by many measures when I joined in 1977.  However, by 1984 the corporate world was down sizing and it was evident that opportunities were diminishing. I had achieved a District Manager level and I aspired to become a Regional Manager. The number of Regional Managers had decreased from 64 to 24 in less than ten years. Additionally I enjoyed "field" assignments, however, to enjoy career growth you had to have assignments in headquarters. I did not enjoy the sterile environment of being at headquarters. I saw an opportunity to have the career I wanted at McDonald's so I applied. My application was rejected by McDonald's, so I had a vengeance to prove that they were wrong.

What were some qualities you looked for when you put together your management team?

I prefer to grow my team from within.  When employees display leadership and are productive, they have the opportunity to move up in the organization. Keeping their ego in check also helps.

What keeps you up at night and have you found a way to turn that challenge into an opportunity?

Lawsuits and the threat of robbery keep me up at night. ( My restaurants have been robbed over 30 times in my career).  I use the Krannert model to turn problems into opportunities. Identify the problem, develop alternatives, set a strategic and tactical plan of action, execute the plan.

How has Dr. Bell influenced your life?

Dr. Bell taught me many things. Two that stand out are: a) systematic savings, b) be a proud, prepared, well dressed Black Man

3 tips for current MBA students?

1. Work on teams in the Krannert Grad School and understand the dynamics of teamwork

2. Try to understand the culture of the companies that you are going to choose for the first stop in your career. Try to pick the culture that best fits your skills and talents.

3. 3.There is an article that Earl Graves Sr. wrote about 3-4 years ago that summarizes what this corporate/social/economic life is all about. The article is about choosing the right life partner, and building family wealth and a legacy. I urge you to read that
   

You've been coming back to Purdue for years. How has the landscape changed at Krannert?

The campus has really developed from a "brick and mortar" standpoint. Rawls Hall is very impressive.  The salaries of graduates are healthy along with the percentage of graduating students receiving career opportunities.

With Dr. Bell now enjoying retirement, what keeps you returning to Purdue?

I return to Krannert and the BOP program because it was instrumental in making me successful.  We did not know we were the beginning of a "Legacy". We were trying to graduate and move up the economic ladder.  So continuing the legacy is one reason, and it is fun to associate with the "Next Generation". The athletic department continues to reach out to me and my daughter is attending the University.