Stakeholders In Business

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Stakeholder is main part in the business in the 21th century. As firms that want to grow and develop their business globally, stakeholders must be the main part that managers must take in account. Therefore, firms that focus on stakeholder concerns and interests will be able to improve relationships with their stakeholders which may make it easy to them to operate and lead to ideas for services or products that will address and satisfy stakeholder needs and wants (Zollinger P, 2009). If managers want to optimize firm’s social and financial performance, their vision on shareholder, community and employee’s interests should gather along with other vision of stakeholder groups whereas if the managers and stakeholders’ vision do not gather, that will be caused less stakeholders’ responses and cooperative toward the management as well as they may contest managerial decisions. Thus, the consequence of less cooperative and responses from stakeholders may affect firm’s financial and/or social performance negatively (Tashman, P, & Real in, J, 2013). According to Clarkson (1995) stated that the stakeholders can be divided into two types, first type is primary stakeholders who have either official contractual or formal relationships with the organization such as customers, employees, suppliers and shareholders. While, the second type is secondary stakeholders like, non-profit organizations, competitors, local community and government who do not have such contrasts. However, Homburg, C, Stierl, M, & Bornemann, T (2013) claim customers and employees are the most important in the primary stakeholders because they are the most influence on firm performance. 2.0- McDonald’s Values and Activities:- McDonald’s values are the essentially reasons... ... middle of paper ... ... competitive advantages when organizations choose to invest in a foreign environment (Hess, D, Rogovsky, N, & Dunfee, T 2002Hess, D, Rogovsky, N, & Dunfee, T 2002). Therefore, McDonald’s activities to the community are playing important role in giving McDonald’s competitive advantages amongst the food industry. 3.0- Conclusion:- In conclusion, what make McDonald’s unique among their competitive in the market are the way how they provide their stakeholders values and how they implement their commitments toward. However, for how long can they be the market leader and survive their position in the market? They can keep their position in the market since the main aim that they focus on is to satisfy their stakeholders. Moreover, they continue developing and researching in order to be updated to the latest ethical and environmental values and activities to adopt them.

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