Stakeholder Analysis (Red Gold Case) According to the article, red lobster is all by Darden catering company, it is
The biggest "leisure catering company in the world." It is to provide affordable and boasts luxury lobster public companies of various kinds of customers. This strategy gives them is one of the best seafood restaurant 17 years consecutive championships. Darden restaurants of stakeholders have shareholders, customers, employees, the media, government, law, local communities, the international community and non-profit organizations. These are all factors that affect their business, in order to the company's long-term operation, they must satisfy the interests of all, they have to create a solution to solve this problem, because
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What attributes (power, legitimacy, urgency) do these various stakeholders hold?
Stakeholders 1Power; 2Legitimacy; 3Urgency
Shareholders Shareholders can make decision in the company operation.
They can in some of the aspects of the company put forward their own ideas and requirements.
Company must respond to their questions, and questions about the company.
Customers Customers have the authority to reject the service and food in the company.
If customers are not satisfied with food and services in the restaurant, they can choose to refuse to drink to replace.
Employees They can make change to an organization by going on strike.
Employee has the authority to have suitable working environment and legal protection.
Media The media can change the image of the company in the world.
The media has the power to understand the company's information, especially information affecting the public interest.
Questions by the media should be answered immediately.
Community The community has a right to know how the company treats the community, whether it involves the interests of the community.
The company treats the community to ask the community.
Government Government has the power to change the company's operations by way of legal
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Compliance with the law in the relationship business and shareholders, do not use corporate assets for their own consumption.
They choose a good moral direction, because this behavior will affect profit.
Customers Company should provide the right price for food and service, and make sure the food is fresh.
Restaurant gives customers a good place to eat food.
Make sure that the customers get good service, happy time.
Employees Company gives their salary, overtime and health care.
Company obeys the labor laws and minimum wages.
Company provide clean place to work, and employees can leave work sometimes.
Media The company should respond to any information society, to accept criticism in society.
Response the information from media, and respect anybody.
Community The company should be subject to the legal community, protect community property; the company should also encourage employees to participate in community activities.
Government Pay taxes to government, obey legal.
Legal Follow the laws.
Do well something for social.
Environment Follow the law of environment protection.
Lobster avoids
Our mission is to provide our customers with the best products and services that we have created a new market space for. We strive for 100% customer satisfaction and taking what used to be multiple purchases of software into one operation system. That can increase many aspects of the important sectors within the restaurant industry. I.e. decrease employee-training time, increase outputs, real-time record keeping ‘including inventory’, and more.
The people in the company and the passion which the people have for what they were doing.
The restaurant business is a challenging industry and if a company has a strategy that works for them as well as their employees, it should stay the course and tweak as needed.
Many of the customers are regulars who have been coming to the restaurant ever since it first opened, which is why the owners make it a priority to provide a consistent menu with the customer’s favorite entrees. The restaurant strictly serves dinner options, as it opens its doors at 4pm. The menu consists of seafood, pasta, steak, and sandwiches, as well as a daily entrée and soup specials, allowing every customer to find something that appeals to them on the menu. Although the menu features a wide variety of food, many of the options, especially the seafood, can be quite pricey for many customers. This results in many customers only being able to come in for special occasions, as the food is too expensive to pay for on a regular basis. Some of the restaurants most popular items, such as the prime rib, are only available on the weekend, resulting in customers who come into the restaurant specifically for thos...
is extremely competitive, labor intense and risky. It is saturated with multiple different types of restaurants many competing in the exact segments. Companies operating in this type of environment seek differentiation strategies in order to set themselves apart from rivals, using various tactics such as pricing, food quality, menu theme, signature menu selections, dinning ambience and atmosphere, service, convenience, loyalty programs, specials, heart-healthy, and location (Thompson, Peteraf, Gamble & Strickland, 2014, p.C-138). Many restaurants can’t keep abreast and don’t survive, making them go out of
It is the policy of Partnership Network that all full and part-time employees, contractors, providers, students, volunteers (collectively referred to as “staff”), and members of the governing authority are expected to perform their designated functions in a manner that reflects the highest standards of ethical behavior. The ethical standards contained in this policy shape the culture and norms of administrative operations and practices. Staff and members of the governing authority will be held fully accountable to these standards. Professionals are expected to follow the ethical standards required by their specific
One of the most important areas to consider is customer service. The atmosphere of a store
come up with ethical values to maintain structure and integrity of the corporation. Theft means to
Media or medium of communication has been conceptualized to effect and drive information to the greater masses because it’s the venue where information can be linear form of communication. This essay will discuss what it is meant by media according to online Business Dictionary defines as the communication channels through which news, entertainment, education, data, or promotional messages are disseminated.” This may include broadcasting and narrowcasting medium such as newspapers, magazines, TV, radio, billboards, direct mail, telephone, fax, and internet, the Business Dictionary further includes in this definition.
-The company competes the other competitors in the market according to business ethics and general law
However, not only the high quality standards of food affects the business, the staff who are presently providing the service are entitled to establishes him or her self with their tone (the sound of the voice), manner (the level of maturity), language and body language well enough to satisfy the customer and to make them appreciated of feeling more welcomed and values them as a proper customer. E.g. if a customer was about to speak the staff operating the till would say hello, may I take your order please,' and when their products are given Thank you and please come again.'
It seems obvious that large corporations have a tendency to ignore the negative effects of their actions in favor of profit. This example, although sensationalized, still says to me that with power comes responsibility. It affirmed my belief that a corporation’s goal cannot be just to provide profit to shareholders, but there must also be an element of social responsibility.
The price of the stock will easily affected by press. Positive news usually lead to increase the price of stock and negative news may cause deduction to the stock price. Fang, Peress and Zheng (2014) give an interesting point that investors are affected by the broadcast. They may influence by the media easily and change their investigating plan. Individual investors are shown that they rely to message and follow the advice from the media. Even experienced investor cannot resist the bias. It is an interesting point that bias resulted by press will cause investors focus on companies with positive news and fund those companies. Furthermore, the companies which was reported to have a negative image may lose the concentration for investors (Hooghiemstra, 2000). It will cause a reduction to the price of companies. Therefore, press without control may cause confusion but it provide an unsuspecting stocking
...ded once they see that the sales will be increasing and tips will be larger. Good staff will increase good public relations which will result in better business. Marketing a restaurant is the most important part in running a restaurant. If a restaurant is not marketed, no one will know about the restaurant causing it to lose money to operate forcing it to close down. Prices on the menu should always be appealing to the restaurant target market and set towards the products on the menu. It is essential that a restaurant develops its staff to the fullest, for a strong staff creates better sales and the public is pleased .
Companies should have only enough workers to perform essential operational functions. Hire employees who are well trained and able to pro-vide results. Moreover, employees should be happy, keep them motivated. Remember that just being good at one thing doesn't mean it's enough for the business to be successful. The owner should be adept at several things such as hiring, accounting, marketing, public relations, etc. And, although initia...