STRATEGIC MANAGEMENT

Strategic Management

[NCC Education ID Number]



Introduction1

Task 11

Question #1: Stakeholder Definition1

Question #2: Stakeholders of McDonalds1

Internal Shareholders2

Managers2

Employees3

External Stockholders3

Stockholders3

Suppliers3

Government4

Consumers4

Interests and Conflicts of the Stakeholders of McDonalds4

Growth and Performance; Conflicts of Interests between Employees and Managers4

Interests and Conflicts of the Shareholders5

Other Interests and Conflicts5

Question #3: Approaches to the Analysis of the McDonalds Stakeholders5

Stakeholder Analysis or Mapping6

Mapping of the Stakeholders6

Task 29

Question #1: Strategic Direction of McDonalds9

The Markets9

Customers10

Clients10

Differentiation Strategy11

The Four P's of McDonalds11

Further Aspirations and Goals13

Question #2: Match Between the Strategic Direction and the Stakeholders14

Alignment14

References15

Strategic Management

Introduction

As per the studies and learning of strategic management, one of the most important aspects of managing and planning strategically in the field of business is to understand and comprehend the factors which control the businesses. Stakeholders and shareholders are considered to be one of the chief aspects of any business, because of the fact that businesses do not run in void; they have to be managed and produce something back for generating revenue.

The following paper is done accordingly to carry out the stakeholder analysis and investigation of McDonalds. The paper takes off with the concepts and constructs important to the understanding of the stakeholders and their analysis. The paper specifically focuses on the stakeholders of McDonalds and the competition and ties between the various stakeholders of the company. Being one of the most important international dealers across the globe in fast food, the stakeholders of the company are diverse, varied yet interdependent for producing the mutual benefits that mainly concerns with the revenue and productivity.

Task 1

Question #1: Stakeholder Definition

According to Bryson (2004, p. 22), this term refers to one of the most prominent parties in the public and non-profit businesses. Stakeholders are the people, organizations or groups that are a crucial part of the businesses in terms that they are taken into account by the heads and top level management of any business while taking any decision regarding the business (Hult, 2011, Pp. 44-45). This is so because the stakeholders have a mutually interdependent relationship with the businesses; they are a group or party that gets affected by the way a business runs and also effect the running and administration of the businesses.

Question #2: Stakeholders of McDonalds

McDonalds is one of the most renowned brands in the international markets with a huge customer base and spread out stakeholders. It owns and runs a large chain of fast food restaurants across the world. It is also considered as the pioneers of the fast food and related trends in the countries other than America and European ones.

Due to the immensely large customer and market base of the McDonalds, it also possesses a group of people and organizations that cast a direct impact on the market and business of the firm in the environment and surrounding. As clarified by the definition of the stakeholder and their role in any market or firm, McDonalds require and need many groups and their assistance in every way to function effectively and efficiently worldwide. Every firm or business possesses two different types of environment; ...