or most of us McDonald’s restaurants are an iconic representation, and worldwide export, of the modern American way of life. Today, McDonald’s is the preeminent fast food chain not only of America, but most of the world as well, and last year the company earned more from its restaurants abroad than it did from their American parents.

One of the things that McDonald’s has done well is finding the right balance between maintaining a global standard of quality in products and service, on the one hand, while at the same time adapting to local cultures and marketplaces, on the other.

For example, in India you know you are in McDonald’s for all the usual reasons: golden arches, fast service, standardized decor…. But then the menu is Hindu-friendly, with McVeggie burgers and Chicken Maharaja Macs replacing the usual hamburgers and Big Macs with your French Fries and Coke.

There are other adaptations that might be necessary too. In Ukraine, where McDonald’s established its presence in 1997, CEO Ian Borden says that while the company has had great success recruiting and training staff, for all levels, the general business climate has meant that McDonald’s has had to expand cautiously.

Borden, a Canadian who has been in Ukraine for three and a half years after working for decade at McDonald’s in Russia, is the only expat in a company of 5,000 employees. “We have found a lot of young and very talented people,” he says.

“If you walk into one of our restaurants you will see our success,” he adds. “You will get a more enthusiastic reception here than anywhere else in the world.”

This not only represents a success for McDonald’s but also signifies what the company has brought to Ukraine. “McDonald’s has largely developed the service culture in this country,” Borden says.

Borden sees his role as maintaining the international standards that have made the McDonald’s brand so strong. “A key part of my role is to make sure that the right practices and principles are a focal point” for the company in Ukraine, he says.

The company’s high standards in Ukraine are confirmed by the unannounced ‘mystery visitors’ that McDonald’s sends around to its restaurants to check on, and rank, standards. McDonald’s Ukraine rates among the top handful of country operations among the 45 European markets, and among the top 10 worldwide.

In the United States some nine of ten McDonald’s restaurants are franchises, an approach that has enabled rapid expansion. In Ukraine, the picture is reversed. All 69 restaurants in 20 cities there are owned outright by McDonald’s.

Borden says the company has done this because of the lack of the legal and judicial environment needed to enforce contracts, and because with a relatively unstable economy franchisees are vulnerable to fluctuations that can damage business. For example, in 2009 the Ukraine economy shrank 17 percent, pushing some businesses into bankruptcy. If McDonald’s had depended on a network of franchisees, it might well have seen its network of restaurants shrink and lose credibility in the marketplace.

On the other hand, McDonald’s Ukraine is competing with other markets for investment funding to use in expanding its restaurants. “Ukraine is competing with 200 countries for investment,” Borden says, “but it ranks pretty low in investor-friendliness.” Even so, the company has invested some $100 million in the Ukraine market so far.

As with other foreign investors, McDonald’s is hoping to see major government reforms improve the business climate for investors. “We are all looking for signs of change in the structural problems,” Borden says. “Not many companies will make decisions based only on [government] promises.”

In neighboring Russia, where the market is larger and better developed, McDonald’s already has 250 restaurants and is continuing to expand at a pace of some 30-40 new restaurants a year.

Borden touched on one problem echoed by many foreign investors: the bad international press Ukraine gets. Few stories are written that go beyond discussing the political problems and lack of stability and progress in Ukraine.

“Once you come here, you realize the potential,” Borden says. “I encourage people to come and have a look.”

And, as with some other major international companies in the country, McDonald’s puts a good bit of hope on the Euro2012 soccer competition to be co-hosted by Ukraine and Poland. The influx of visitors to the country should result in many from other countries forming fresh views of Ukraine.

McDonald’s and Coca Cola are two of the main sponsors of the competition. Borden sees his company taking on the role of helping Ukraine show the world “how great Ukraine is.”

Borden points to the many positive changes in Ukraine since it emerged as an independent state from the Soviet Union. Western countries that have enjoyed democracy for centuries tend to judge Ukraine by their own standards, thereby often missing the very significant developments there, he says.

He sees a huge potential in Ukraine, a country of 44 million. “We are all looking forward to what Ukraine can be,” Borden says.