In a situation like this the business would want to try to do everything they can do to win their arguments. As you can see businesses respond to certain stakeholders in different ways, according to the situation.
Another example of a stakeholder would be financers. A business would try and convince financiers that their business will be successful to make the financiers lend them money. Financiers would want their loan paid of time therefore the business would have to respond to this formally and very professionally. They would have to keep the local community happy, so that their business makes more money allowing them to pay of the financiers.
Overall businesses must respond to all stakeholders positively in order to keep their business running successfully. Businesses must keep all their stakeholders interested in their business in order to be successful.
A business cannot afford to take a situation of a stakeholder in a negative manner because this would give the business a bad reputation and lose customers and suppliers etc. This would affect the business in many ways including the stakeholders. A business MUST keep all stakeholders happy and respond to them in a positive manner and deal with all situations optimistically.
McDonalds and their Stakeholders
Introduction:
In this piece of coursework I am going to describe the different stakeholders for McDonald’s and what they do, their roles in the business and why they keep an interest in the business. I am also going to describe why the business should keep a certain stakeholder happy and how important the stakeholder is to the business.
McDonald’s is a business that is well known for their burgers and meals. It’s a business that has extended itself all around the world such as the United Kingdom, U.S.A, China, India and many more countries.
The stakeholders for McDonald’s are ;
Customers Pressure groups Local Community
Managers Employee Financiers
Suppliers Owner
Why every stakeholder is interested in McDonald’s
Each stakeholders are interested in McDonald’s for different reasons.
Customers are interested in the company McDonald’s because they would want an interest in the new burgers or salads and offers the company are offering them. They would also keep a interest in the business to see the range of meals they have in store and how healthy they are.
Another Stakeholder of McDonald’s would be managers. Managers are interested in the business because they would want to know if their meals and offers bring more customers and if their business runs successfully so that they earn higher bonuses.
Suppliers keep an interest in the business so they know how the sales of their products are doing. Even if the sales in McDonald’s would not be doing so well they would keep supplying to make their own money,
Another important stakeholder for McDonald’s is pressure groups. Pressure groups keep an interest in the business to influence how McDonald’s operates. An example of this is Pressure groups may think McDonalds meals are very unhealthy and therefore would try and get McDonald’s to use low fat ingredients. Pressure groups are against McDonald’s meals for many reasons such as destroying rainforests, the food being unhealthy, how they deliberately exploit children and how they torture and murder animals. ( I have found this out by )
The Employees for McDonald’s would keep an interest in the business because they would want to make as many sales as they can so they can (L)get good wages. They would also want McDonald’s to succeed so that they stay in their job because if McDonald’s was to close down they would lose their job and become unemployed.
The owner of McDonald’s would keep a interest in the business because they would want McDonald’s to have a good reputation and be successful and make a lot of sales. They would want this so they can make maximum profits from the business.
The local community keeps an interest in McDonald’s for many reason. Their main reason would be is that they enjoy their meals and would like McDonald’s to keep serving what they do. They would want McDonald’s to be hygienic and their food to meet their expectations. They would also want value for their money for the meals they buy. The local Community would want the meals to be healthy and yet enjoyably.
Another example of a stakeholder for McDonald’s would be the financiers. Financiers would keep an interest in the business because if they have lent money to the business for building, repairing expanding etc they would want their loan repaid on time. They would keep a record of how well McDonald’s is doing so that they know their loan will be repaid.
Why Should McDonalds try to keep the stakeholders Happy
McDonald’s should keep all their stakeholders to bring more business and make more money. They should also keep their stakeholders happy so that they earn a high reputation in the food industry. They should make sure that their food is healthy and everything is kept hygienic.
Overall I think the most important stakeholder for McDonalds is the customers. This is because the customers are the people who bring in the business to the company and make the company their money. Without customers the business would be unsuccessful and soon will lose a lot of money, contacts, reputation and jobs and soon will have to close down. The customers give the company more business and a better reputation.
Customer Service
Introduction:
- By achieving the understanding of customer service I am going to gain a enhanced understanding of what customer service is and how it benefits the business. It would also allow me to know why it is important to the business and how it can be measured and improved. By gaining this knowledge of customer service I will be able to relate this to the different circumstances that occur within the business and how it links to customer service.
What is Customer Service?
- Customer service is an individual segment of the business that helps to ensure that the consumers needs are met and that they are satisfied with the service that the business provides. Customer service contains many different aspects such as ; Pre- sales service and After- sales service. Both these aspects are seen to be apart of Customer Service because they help persuade the consumers thoughts about the business. Customer Service also ensures that the consumers needs are met and guarantees them happiness within the service of the business. A business’s main interest is that the effort they put into their customer service satisfies the consumer and keeps the consumers pleased. Customer Services also ensures that it is kept at a high reputation so that the business gains more consumers keeping it at a successful stage and earning a higher profit.
Why is customer service important?
- Customer service is highly essential to a business, if this would lack in the business their would be a large increase in the loss of customers. Customers are a important stakeholder to the business because the business firstly and foremost relies on them for their business to succeed. A businesses main interest is to succeed and make high profits. They also compete with other businesses so therefore must keep a high standard of customer service. Without a large number of consumers a business could not operate. If the business’s customer service could not satisfy their customers with their essential needs then they would have to be dealt with professionally and persuasively explaining to a customer why their service was not applicable for their needs.
If a customer was to remain unhappy and unsatisfied with the service the business had to offer and the products, they may switch to another company and what they have to offer. If this was to occur the business’s reputation would be at risk along with their business losing money.
- Customer service is also a very important factor to the business
Good customer service can benefit a business because if a business meets the standards of their customers, then their customers will spend more money at the company therefore the business will make more money. This would also benefit the business because they would gain a better reputation in the marketing area.
- Customer service is compulsory to the business so that they work hard to ensure that they keep their existing customers and gain more to expand the business’s reputation and profit.
- Customer service also benefits a business in various ways. The following are just the primary benefits a business can gain;
- Keeping customers happy with their products. This is especially important because it helps to maintain the businesses image and reputation. A business’s image and reputation determines how consumers view it.
- Gaining new customers. Most businesses need to keep finding new customers because their is no guarantee that they will be able to keep all their existing ones. This is because existing customers will naturally want to try other businesses products.
- Offering customers information about the products that are available.
- Providing customers with god service, or better service than competitors, helps businesses to increase their sales revenue and their products.
All of the above that are factors of customer service benefit the business because they give the business a better reputation and a higher profit increase.
Customer Service at Tesco’s
- Tesco’s is a large, expanded business that is very successful and has a high reputation. Tesco’s ensures that their customers are happy and satisfied with their products and their services. The customer services that Tesco provides are:
- Refunding
- Free Parking
- Disabled and toddler parking spaces
- Home delivery
- Internet access for information about their products and their business.
- Trolleys and baskets to make shopping easier
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Toddler trolleys for parents with children.
Businesses such as Tesco’s sustain these customer services to ensure their customers are satisfied and happy with their business. The more services a business provides the easier it is for a consumer to gain information about the business and to receive the product they need. The more conveniences a business provides the better the businesses reputation would be which would outcome to more customers and a higher profit.
How Customer Service is Measured Within McDonalds
- Customer service can be measured in various ways according to what the business what’s to observe, in my case would be McDonalds. There are many examples of various ways to measure customer service as the following:
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Questionnaires: This would help McDonalds find out whatever they need to through primary research. Customers can be asked a series of carefully prepared questions. Questionnaires can be carried out by asking customers to give written replies to questions. By doing this McDonalds can find out information by their customers that they can use to improve or expand their business on.
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Observation: McDonalds may observe their customers reactions and their satisfaction when buying and receiving their food. McDonald’s can observe customers as they use a product or at the point they purchase it.
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Websites and emails: McDonalds can use their websites to invite comments on their customer satisfaction. Emails received to customers from the company can be replied giving McDonald’s a better understanding, compliment or criticism about their customers experience at the restraint was and if anything within the business can be improved.
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Sales Analysis: McDonalds can record the amount of sales that they are making each year to compare it with their competitors. Reaching a higher profit than their competitors is vital to McDonalds reputation and to earn more money. To earn a higher reputation than their competitors is essential for McDonalds so that they can obtain more consumers.
- Overall McDonalds can use many different types of conducts to measure their customer services and how well they are doing, according to what they want to investigate about the business.
- Below I have done an example of a questionnaire McDonalds may design to consider whether launching a new product within the business is doing well or not. From this they may also find out if launching this new product increases their profits and consumers.
- McDonalds has launched a new ice cream which has done well within the business. McDonalds requires some customer feedback to consider whether the customers are satisfied with it.
- The special feature of this ice cream is that the customer can fill the cone themselves using a special machine.
- What age group do you come under?
10 or under 10- 15 16-35 35+
- What is your gender?
Male Female
- How Often do you go to eat at McDonalds?
Weekly Monthly Yearly
- What do you normally purchase?
Burgers Fries Happy Meals
Package Meals Deserts
- Do you like the new ice cream that has been introduced?
Yes No
- Would you buy this product again?
Yes No
( If you answered yes to question 5 and 6, answer questions 7-10.
If you answered no to question 5 and 6, answer questions 11-13)
- What did you like about this product?
Filling it yourself The Machine
The support and help provided Other
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What support did you get with using the machine?
Instructions Staff Support
Other
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Do you believe this product is a success?
Yes No
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Do you think we should keep this product selling at McDonalds?
Yes No
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What didn’t you like about the product?
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What could be improved to make this product a success?
Make the machine easier to use
Provide more customer assistance
Other
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Do you think by improving the product it should be kept within the business or be removed?
Keep the product after being improved
Remove and stick to the original ice creams
Customer Service provided in McDonalds
- McDonalds provides many different customer services to ensure that their customers are satisfied and happy with their business and products being sold. McDonalds certifies all complaints made against them are taken seriously and soon after should be improved. McDonalds has had target of no more than two complaints for each restaurant and therefore goes to show that their consumers and customers are pleased and satisfied with what McDonalds has to offer in store. McDonalds are confident that their business is a success and have expanded vastly throughout the years, most of this is accomplished by the customer services they have to offer.
- McDonalds has many customer services provided such as;
- Good communication skills
- Clean environment
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Improving products e.g. making a more healthier menu
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Helpful staff e.g. Floor staff
- Drive through
- These are just a few of McDonalds customer services which have expanded and improved over the years. Without the customer services McDonalds provides; would result to unhappy and unsatisfied customers. McDonalds have made sure all aspects of customer needs have been covered, which increases the customers attending McDonalds and the profit. McDonalds also values their previous customers therefore ensures they are satisfied with what the company has to offer.
- McDonalds has both Internal and External customers. Both types of customers are important for the business, therefore McDonalds provides customer service to both. The above have been examples of what McDonalds offer to external customers.
- The following shows an example of what kind of customer services McDonalds has to offer to Internal customers.
- The production department requires health and safety training for some new employees, this will be provided by the training department. In this situation, the production department is an internal customer because it is using the services of the training department.
The table below recapitulates the customer services provided by McDonalds.
How can McDonalds Improve their Customer Services?
- Although statistics have shown that McDonalds is a world wide fast food company and has a high superiority for their customer services, McDonalds receives complaints regarding the unhealthy foods that have made regular customer gain twice as much weight, insulting to animals and nature, waiting lines and exploiting young children. McDonalds has several ways to ensure all customer service complaints are dealt with.
- McDonalds has already improved their menus by adding a healthier choice such as salads. From news articles and complaints about their unhealthy meals, McDonalds considered to make a healthier menu to those who have experienced problems with their meals in the past. This has bought their previous customers back to company. McDonalds can also use more healthy ingredients to ensure their customers are satisfied with what they are making their meals with.