Unit 1 – The Business Environment
Task 1 – Range of Different Business Ownerships
Distinction 1
Introduction:
In this assignment I will be evaluating the influence of different stakeholders on one organisation; I
will also be creating a priority ranking with evidence of why each stakeholder is in their respected
positions and why.
The company I will be basing this assignment around is McDonald’s. The stakeholders I will be
speaking about are as followed;
- Customers
- Employees
- Suppliers
- Owners
McDonald’s:
- Customers
The Customers of McDonald’s have a large amount of influence on the McDonald’s organisation
and the decisions they make; this is because of the fact that the customers of the establishment
are the core providers of the profit the company makes as they are the ones that pay for their
products and services.
However because of reducing their prices McDonald’s have increased the amount of customers
they have. McDonald’s rely on their customers but, more importantly repeat customers as
repeat customers with a higher profits yield. Incentives have been put in place to help ensure
the occurrence of repeat customers within their establishment. These incentives include things
like having a “Saver Menu” that contains products no more than £3 in price, also McDonald’s
have marketing scheme for each season offering a limited edition product, the introduction of a
product like this will tempt customers to go to them over the opposition.
Customer’s one want when looking for a restaurant is affordable prices; this has meant that
McDonald’s restaurants internationally aim to give them the cheapest alternative to the
competition. As whoever has the most inexpressive product at the best price will have the
largest customer base. Keeping the customers of the establishment happy has however made
McDonald’s lose potential profits as their prices could be higher than what they are set at.
- Employees
Employees have a large amount of influence on the McDonald’s organisation; this is because
employees are the first and only contact a customer has with the business meaning that
whatever standards the employees are demonstrating is what the customers with think applies
to the entire organisation, so if the employees are not preforming to high standards the
customers will be hesitant in spending money at the establishment as they would be paying for a
sub-par service causing the company to lose potential profits. This means that in order to ensure
that the employees of the organisation are preforming at high standards McDonald’s has to
create a work environment that is comfortable and professional to work in. This would include
Jordan-Craig Beadle
Task 1 – Range of Different Business Ownerships
Distinction 1
Introduction:
In this assignment I will be evaluating the influence of different stakeholders on one organisation; I
will also be creating a priority ranking with evidence of why each stakeholder is in their respected
positions and why.
The company I will be basing this assignment around is McDonald’s. The stakeholders I will be
speaking about are as followed;
- Customers
- Employees
- Suppliers
- Owners
McDonald’s:
- Customers
The Customers of McDonald’s have a large amount of influence on the McDonald’s organisation
and the decisions they make; this is because of the fact that the customers of the establishment
are the core providers of the profit the company makes as they are the ones that pay for their
products and services.
However because of reducing their prices McDonald’s have increased the amount of customers
they have. McDonald’s rely on their customers but, more importantly repeat customers as
repeat customers with a higher profits yield. Incentives have been put in place to help ensure
the occurrence of repeat customers within their establishment. These incentives include things
like having a “Saver Menu” that contains products no more than £3 in price, also McDonald’s
have marketing scheme for each season offering a limited edition product, the introduction of a
product like this will tempt customers to go to them over the opposition.
Customer’s one want when looking for a restaurant is affordable prices; this has meant that
McDonald’s restaurants internationally aim to give them the cheapest alternative to the
competition. As whoever has the most inexpressive product at the best price will have the
largest customer base. Keeping the customers of the establishment happy has however made
McDonald’s lose potential profits as their prices could be higher than what they are set at.
- Employees
Employees have a large amount of influence on the McDonald’s organisation; this is because
employees are the first and only contact a customer has with the business meaning that
whatever standards the employees are demonstrating is what the customers with think applies
to the entire organisation, so if the employees are not preforming to high standards the
customers will be hesitant in spending money at the establishment as they would be paying for a
sub-par service causing the company to lose potential profits. This means that in order to ensure
that the employees of the organisation are preforming at high standards McDonald’s has to
create a work environment that is comfortable and professional to work in. This would include
Jordan-Craig Beadle
