This assignment is to assess the relationship and communication of stakeholders in two businesses using independent research.
Communication: The sharing of information between people in an enterprise for a commercial benefit.
If businesses have a bad communication within the business it could lead to lower efficiency, decreased innovation and lower employee morale.
How communication help business to meet stakeholders need
Communication helps businesses meet stakeholders needs through different methods from meetings, conference calls and newsletters etc. these help meet the stakeholders needs due to the fact that each way of communicating will lead to them being able to assess their aims and objectives which is most stakeholders needs.
Business 1: McDonalds
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Their aim for McDonald’s owners is to invest money into McDonalds and make most of the major decisions in the company. If not met this could lead to McDonalds ending up in financial trouble if owners do not fund and invest money. This would end up leaving McDonalds to maybe even lose branches across many countries. McDonalds meet there owners needs and wants as they are given the right make decisions Owners have changed the way McDonalds have been because of the owners because of the fact that they make McDonalds decisions McDonalds communicate through verbal meetings also through multimedia
Second is the customers whose aim is to buy the product produced by McDonalds and are attracted by the product. Without them McDonalds would not be in the same position as they are as they are the stakeholders who help the sales as they’re the ones who buy the product that is sold by McDonalds so therefore they would not be able to make any kinds of profit. In this case McDonalds meet the wants and needs of the customers through the fact of making new and improved products that attract customers so that they will interested in buying their