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Stakeholders

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Stakeholders

Stakeholders: The individuals and groups of people who have
an interest in how the business is run. They are said to
have a stake in the business. An example of this is the
stakeholders for a school. These would be the Head teacher,
assistant head teacher, deputy head, head of year, assistant
head of year, subject teachers, senior teachers, cleaners,
canteen teachers, cooks, mentors, heads of department,
caretakers and nurses.

Main Interest or influence of each stakeholder;

v There are many different examples of stakeholders and what
they are interested in.

v Each stakeholder is interested in the business for a
different reason. For example one stakeholder would be the
customers. This example of stakeholder would have an interest
in the business because they would want to buy the products
the business is selling. They also would want more value
for their money and the goods the business is selling
should be meeting their expectations.

v Another stakeholder would be the employee. The employee
would be interested in the business because they would want
the business to succeed and make more money than other
businesses around the community. This is because if the
business does badly and ends up closing down many employees
would be out of a job leaving them unemployed and they
wouldn’t be making money. An employee would want the
business to succeed and be successful because they would
want to earn good wages.

v A manager is another stakeholder. Their interest in the
business would be that it runs successfully so they can
earn higher bonuses.

v Another type of stakeholder would be the suppliers. A
supplier is individuals , group or originations that sells
their goods or services to other business to make money. A
supplier keeps an interest in the business so that they
know how the sales of their goods are doing in the
business. Even though the sales of their goods would not be
making as much money as the business thought the suppliers
would keep selling them their goods to make their own
money, or they would try to enhance their goods to make
better sales. If they would not do this and take this
interest, the business would take their money else where and
buy goods from another supplier.

There are many more stakeholders such as the following;

Owner: An owner would keep an interest in the business
because they would want their business to stay successful
and make money. A owner would be interested for their
business to carry on doing this so that they make the
maximum profits from the business.

Local Community: The local community would keep an interest
in the business because they would want quality and value
for money when they buy their goods from the business. They
would want the business to meet their standards and
expectations so that they could always buy their goods from
there without any complications.

Government: The government keeps an interest in the business
because a successful firm would be good for the government
as it creates them with wealth and employment. The
government also receives taxes from the profits that the
business makes.

Financier: Financers are groups or organisations that lend
loans to businesses! They keep an interest in the business
because they want the business to do well so in addition
they can have their loan repaying on time.

All of these stakeholders have an interest in the business
to make their money at the same time or get better value
for their money.. However some stakeholders keep an interest
in the business to influence how the business operates. This
type of stakeholder is called pressure groups. An example of
something they would do is stopping the business from
polluting the local environment.

How do businesses respond to stakeholders?

Businesses respond to different stakeholders in different
ways. Businesses respond to certain stakeholders in a certain
way. An example of this is;

If a local community to a business, was to buy their goods
from there, and would complain about a certain problem or
would require something to their liking that was not meeting
their standards, requirements, expectations the business would
respond to the local community immediately. This is because
the business would not want their customers to spend their
money else where.

However businesses would respond to stakeholders such as
influence how a business operates. So if a business would
want to extend or rebuild their building, and the community
would complain, the pressure groups would want to stop the
business from building.

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
www.mcspotlight.org/case/pretrial/factsheet.html )

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:

v 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?

v 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?

v 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.

v 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.

v 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.

v Customer service also benefits a business in various ways.
The following are just the primary benefits a business can
gain;

Þ 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.

Þ 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.

Þ Offering customers information about the products that are
available.

Þ 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

v 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:

v Refunding

v Free Parking

v Disabled and toddler parking spaces

v Home delivery

v Internet access for information about their products and
their business.

v Trolleys and baskets to make shopping easier

v 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

v 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:

v 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.

v 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.

v 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.

v 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.

v 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.

v 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.

v 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.

v The special feature of this ice cream is that the
customer can fill the cone themselves using a special
machine.

1. What age group do you come under?

[IMAGE][IMAGE][IMAGE][IMAGE]
10 or under 10- 15 16-35 35+

2. What is your gender?

[IMAGE][IMAGE] Male Female

3. How Often do you go to eat at McDonalds?

[IMAGE][IMAGE][IMAGE] Weekly Monthly Yearly

4. [IMAGE][IMAGE][IMAGE]What do you normally purchase?

[IMAGE][IMAGE] Burgers Fries Happy Meals
Package Meals Deserts

5. Do you like the new ice cream that has been introduced?

[IMAGE] Yes No [IMAGE]

6. Would you buy this product again?

[IMAGE] Yes No [IMAGE]

( 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)

7. What did you like about this product?

[IMAGE][IMAGE]
Filling it yourself The Machine

[IMAGE][IMAGE]

[IMAGE] The support and help provided Other

[IMAGE]

[IMAGE]


8. [IMAGE][IMAGE][IMAGE][IMAGE][IMAGE][IMAGE][IMAGE]What support
did you get with using the machine?
Instructions Staff Support

Other

9. [IMAGE][IMAGE]Do you believe this product is a success?
Yes No

10. [IMAGE][IMAGE] Do you think we should keep this product
selling at McDonalds?
Yes No

11. [IMAGE][IMAGE][IMAGE][IMAGE] What didn’t you like about
the product?



12. [IMAGE][IMAGE][IMAGE][IMAGE] What could be improved to
make this product a success?
Make the machine easier to use
Provide more customer assistance

Other

13. [IMAGE][IMAGE] 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

v 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.

v McDonalds has many customer services provided such as;

Þ Good communication skills

Þ Clean environment

Þ Improving products e.g. making a more healthier menu

Þ Helpful staff e.g. Floor staff

Þ Drive through

v 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.

v 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.

v The following shows an example of what kind of customer
services McDonalds has to offer to Internal customers.

Þ 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.

Methods of Customer Services

What method McDonald uses

Finding out and meeting customer needs

Consumer research questionnaires. Customer comment cards that
customers can fill out on the day.

Focus groups where they test out new products.

Providing credit facilities

Signs behind the counter with a list of prices and product ranges.

Having good communication skills

All staff are trained to give the same opening and closing lines e.g.”
hello how are you” “ may I help you”

How can McDonalds Improve their Customer Services?

v 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.

v 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.

How to Cite this Page

MLA Citation:
"Stakeholders." 123HelpMe.com. 25 Oct 2014
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