Report on McDonald’s stakeholders and business ethics
Will Jones
Task two:
Part two:
b)
There are implications for both McDonalds and stakeholder when it comes to behaving in an ethical manner, such as:
Adapting business behaviour:
There are benefits and drawbacks to adapting business behaviour, especially in the case of McDonalds and their shareholders. The benefit of adapting the businesses behaviour is that it can improve the businesses relationship with the general public and entice new customers to the business. An example of this is when McDonalds changed their policy on where they source their meat, they changed from using foreign imports to English and Irish meat. With social media being such a big player in …show more content…
The benefits of competitiveness is that it shows McDonalds and their stakeholders want to compete against rivals to become the best and to attract more customers. The drawback is that sometimes the tactics used to be competitive may be unethical and not in the interest of fairness. Stakeholders and McDonalds may clash over the companies competitiveness and whether or not they should be more or less competitive, for example some stakeholders (such as management) may want McDonalds to be more competitive as it will increase McDonalds profile in the public eye, whereas other stakeholders (such as shareholders) may see this as reckless and want McDonalds to be less competitive as to focus more on internal improvements.
Reputation:
McDonalds and their stakeholders will care about the company 's reputation as it reflects on both of them, good or bad. There are benefits and drawbacks to McDonald’s reputation, the benefits are they are a globally known brand and their golden arch logo is synonymous with them and their food. The drawbacks of this are that they are known as an unhealthy brand and are often branded as encouraging obesity. Conflict may arise if the stakeholders want to change the reputation of the company and McDonalds want to keep their current reputation as it is globally know and respected.
Public …show more content…
There are benefits and drawbacks to complying with relevant legislation and codes of practise, the benefits are that McDonalds will receive a good reputation with the government who set these legislations and codes. The drawbacks of following the legislation and codes mean that you may not be able to operate as effectively as you could if they weren 't there. An example for this would be the ongoing debate about zero hours contracts which McDonalds uses and although they are not illegal now they may be in the future so McDonalds would have to alter its system to adhere to the change in legislation. Conflict may arise between stakeholders, such as the government and customers because they may have a difference in opinion on whether certain legislation and codes of practice are needed, the government may want to change legislation on zero hours contracts illegal which may raise the cost of their products which may be disagreeable with the customer as they won’t see an improvement in their
Will Jones
Task two:
Part two:
b)
There are implications for both McDonalds and stakeholder when it comes to behaving in an ethical manner, such as:
Adapting business behaviour:
There are benefits and drawbacks to adapting business behaviour, especially in the case of McDonalds and their shareholders. The benefit of adapting the businesses behaviour is that it can improve the businesses relationship with the general public and entice new customers to the business. An example of this is when McDonalds changed their policy on where they source their meat, they changed from using foreign imports to English and Irish meat. With social media being such a big player in …show more content…
The benefits of competitiveness is that it shows McDonalds and their stakeholders want to compete against rivals to become the best and to attract more customers. The drawback is that sometimes the tactics used to be competitive may be unethical and not in the interest of fairness. Stakeholders and McDonalds may clash over the companies competitiveness and whether or not they should be more or less competitive, for example some stakeholders (such as management) may want McDonalds to be more competitive as it will increase McDonalds profile in the public eye, whereas other stakeholders (such as shareholders) may see this as reckless and want McDonalds to be less competitive as to focus more on internal improvements.
Reputation:
McDonalds and their stakeholders will care about the company 's reputation as it reflects on both of them, good or bad. There are benefits and drawbacks to McDonald’s reputation, the benefits are they are a globally known brand and their golden arch logo is synonymous with them and their food. The drawbacks of this are that they are known as an unhealthy brand and are often branded as encouraging obesity. Conflict may arise if the stakeholders want to change the reputation of the company and McDonalds want to keep their current reputation as it is globally know and respected.
Public …show more content…
There are benefits and drawbacks to complying with relevant legislation and codes of practise, the benefits are that McDonalds will receive a good reputation with the government who set these legislations and codes. The drawbacks of following the legislation and codes mean that you may not be able to operate as effectively as you could if they weren 't there. An example for this would be the ongoing debate about zero hours contracts which McDonalds uses and although they are not illegal now they may be in the future so McDonalds would have to alter its system to adhere to the change in legislation. Conflict may arise between stakeholders, such as the government and customers because they may have a difference in opinion on whether certain legislation and codes of practice are needed, the government may want to change legislation on zero hours contracts illegal which may raise the cost of their products which may be disagreeable with the customer as they won’t see an improvement in their