Business
D1 UNIT 1
Intro
In this task, I will evaluate the influence exerted by the different types of stakeholders for one organisation. Furthermore, I will indentify the main stakeholders of McDonalds and state what I think the demands they make on McDonalds are. I will also indentify where McDonalds are facing the conflicts in dealing with the external influences.
A stakeholder is defined as any individual or group who have an interest in the success o the business.
McDonalds 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 also most every country on the plant. Its first UK restaurant opened in 1974 and McDonalds now serves around 2.5 million customers everyday in the UK.
Stakeholder 1: Customers service Customers are the first stakeholder I am going to evaluate which are external stakeholders. Customers commit to profit levels and turnover through buying products and services. People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of money to purchase a product, so if the product is cheaper in one restaurant, such as McDonalds, than in another one then customers will buy the cheaper one which then attracts more customers. McDonalds may survive through customer loyalty i.e. having regular customers. By getting regular customers this could bring in more profit which then can be used to help expand the business.
www.businesscasestudies quoted "Customers are people who buy products and services from other people (usually companies of one sort or another). What customers think and feel about a company and/or its products is a key aspect of business success. Attitudes are shaped by experience of the product, the opinions of friends, direct dealings with the company, and the advertising and other representations of the company." This quote can be used to represent the needs that the customers want from business
Intro
In this task, I will evaluate the influence exerted by the different types of stakeholders for one organisation. Furthermore, I will indentify the main stakeholders of McDonalds and state what I think the demands they make on McDonalds are. I will also indentify where McDonalds are facing the conflicts in dealing with the external influences.
A stakeholder is defined as any individual or group who have an interest in the success o the business.
McDonalds 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 also most every country on the plant. Its first UK restaurant opened in 1974 and McDonalds now serves around 2.5 million customers everyday in the UK.
Stakeholder 1: Customers service Customers are the first stakeholder I am going to evaluate which are external stakeholders. Customers commit to profit levels and turnover through buying products and services. People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of money to purchase a product, so if the product is cheaper in one restaurant, such as McDonalds, than in another one then customers will buy the cheaper one which then attracts more customers. McDonalds may survive through customer loyalty i.e. having regular customers. By getting regular customers this could bring in more profit which then can be used to help expand the business.
www.businesscasestudies quoted "Customers are people who buy products and services from other people (usually companies of one sort or another). What customers think and feel about a company and/or its products is a key aspect of business success. Attitudes are shaped by experience of the product, the opinions of friends, direct dealings with the company, and the advertising and other representations of the company." This quote can be used to represent the needs that the customers want from business