The growth and sustainability of a business depend on the shareholders. Shareholders are groups of people that are involved in the activities and operations of an organization. Every company has shareholders. There are several different types of stakeholders associated with a corporation, and those stakeholders can have different opinions and views on what corporation 's goals should be and how they should be running the company. Identification of stakeholders is important, because it is difficult to realize some groups, which are involved in the activities of the organization. This paper will focus on the identification of various stakeholders involved in the McDonald’s company.
McDonald’s is an established fast food company that has many
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Consumers refer to all the individuals who purchase and use commodities provided by the McDonald’s company. They influence the business by buying of interest therefore they influence McDonald’s product decisions. They want the company to produce high value and quality products at a reasonable price. McDonald’s also considers the consumers to be a high priority. Without the consumers, the company would not sell its products. Therefore, the consumers are significant for the sustainability of the company. Consumers fall under the dominant group of stakeholders in the McDonald’s company. This is because consumers transact with the company on a regular basis (Cornelissen, 2008). This gives them power over the company, it legitimacy of the consumers is determined by the fact that it is their obligation to purchase the products of the company. Another dominant stakeholder at the McDonald’s are the owners. People that own the business are called owners. Owners are considered the most important stakeholder, because they may have put a lot of their time and money setting up a business. Owners are considered the core of the business. An owner would have an interest in the business, because they would want their business to stay fruitful and make maximum profits for the business. McDonald’s is a large chain restaurant that requires, significant capital to run. The owners of the company provide this …show more content…
The company strives to maintain a good relationship with these stakeholders in order to grow. McDonald’s also has other groups of stakeholders such as the suppliers. It is the responsibility of the company to regulate the power of these stakeholders over the business. This helps to create mutual interests between the stakeholders and the company. The legitimacy of the shareholders is legally bound and is determined by the government. The government implements legal policies that determine the responsibilities of these stakeholders and shapes relationships among the stakeholders. However, the urgency of the shareholders is determined by the