- Level: University Degree
- Subject: Business and Administrative studies
- Word count: 1403
McDonalds Stakeholder map
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Introduction
Every organization has key stakeholders. These are Those who are affected by and capable of influencing strategy - and their issues is necessary in order to understand the range of interests that need to be considered in developing and implementing strategy and policy proposals. In the other hand, Key stakeholders are those who affect or who will be directly affected by a change process. Corporate stakeholders are usually customers, suppliers and shareholders. Within an enterprise, stakeholders may also include managers and staff. In order to manage stakeholders effectively it is important to understand the needs and interests of each, including: * Their goals * Past reactions * Expected behavior * The likely impact the project will have on them (positive or negative) * Their likely reaction * The extent of buy-in and level of support. McDonald's is one of the world's leading fast food restaurants. It opened its first restaurant in the United States in 1954 and has since expanded to almost every country on the planet. Its first UK restaurant opened in 1974 and McDonald's now serves around 2.5 million customers every day in the UK. McDonald's vision McDonald's vision is to be the world's best quick service restaurant experience. ...read more.
Middle
They also aware of the fact that if company fails they could lose their job. Employees will want to get paid as much as possible for their work, and maybe advance in the company. In fact they rely on McDonald's for income and benefits. They are aware of the fact which a failing company will Threaten their jobs, Freeze their pay, possibly cut their wages. Suppliers also play an important role as McDonald's stakeholders. As McDonald's considers the quality of its products to be of absolute importance, it sets standards for suppliers that are amongst the highest in the food industry. McDonald's believes in developing close relationships with suppliers. The supplier's also work closely with McDonald's to develop and improve products and production techniques. Meanwhile there are more orders for them so it means more success for their business. They also aware of the fact that Failing company means Falling orders for them, Less profit and Job losses. Moreover the Government is a stakeholder. When a business succeeds, Business pays taxes the more profit the business makes the more taxes it pays and if a business fails, Workers are made unemployed and Government will have to pay them unemployment benefit. ...read more.
Conclusion
The company has to meet them and assure them that they do look after the packaging and the waste, they take care of the health and nutrition and they do ethical trading. Keep Informed (Management, employees, Suppliers & competitors) Management & employees are the key assets for the company as they are the main people who are directly link with company in day to day activities. The company has to meet the employees and see whether they are with the management. If they are happy then the company will do well and if they are not happy then the company has to make sure that they resolve the problem as soon as possible in order to avoid problems in future. The company also has to meet the need of the suppliers and keep a constant check that whether these suppliers are following the standard strictly in selecting the product for the company. Minimal Effort (Local communities) Local communities have an impact on McDonald's which they are providing the employees and also the customers and need to be kept satisfied. Stakeholder mapping has a significant role in making strategy. It consists of making judgements on three issues: 1. How likely each stakeholder group is to impress its expectations on the firm. 2. Whether they have the means to do so - power of the stakeholder group. 3. ...read more.
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