Table of Contents
- INTRODUCTION
- IMPORTANCE OF BUSINESS ETHICS IN THE MCDONALDS
- KEY STAKEHOLDERS AND INTEREST IN BUSINESS DECISION MAKING
- METHODS
- RESULTS
- DISCUSSION
- CONCLUSION
- REFERENCES
INTRODUCTION
McDonald’s is a well-known hamburger fast food chain restaurant running chain all across the globe. It has established efficient business working in consideration to its business ethics and principles (Aras & Crowther, 2008). The current report has been worked out by focusing the ways global values are standardized and followed by the McDonalds all across at cross-border level.
The cited firm is inclined towards establishing the sustainable supply chain where the company believes in making, offering and distributing hamburgers through constant quality and sustainability. However, these are all done by keeping ethics and values on the account. Contrarily, the company is evidenced to face some ethical issues domestically and globally.
IMPORTANCE OF BUSINESS ETHICS IN THE MCDONALDS
McDonald’s comply with ethical norms and policies in many ways. Firstly, by adhering code of conducts, they procure best and exclusive quality of raw materials thereby maintains the sustainable supply chain. Secondly, they promote exercises as a health promotion campaign to minimize the impact of fast food eating habits.
Being recognized as the Energy Star Partner of the Year award by the Environmental Protection Agency (EPA), McDonald's worked hard to promote the clean environment (Lee & et al., 2015). By using recycled and promotion tool, they maintain the ethical relationship with its customers, suppliers, and other stakeholders.
Next, they promote supportable employee experience which works on staff development and training programs for them. They are equally responsible towards society whereby the cited firm become part of various Olympic Games. On the part of their ethical working, they maintain good command over donation and similar activities during disaster management.
KEY STAKEHOLDERS AND INTEREST IN BUSINESS DECISION MAKING
McDonald got the great challenge of managing the interest of its stakeholders besides facing ethical issues opposed by environmentalist, health working sectors, etc. Employees and customers are great significance to them. For employees, by maintaining education training of its employees at Hamburger University, they offer leadership and development activities. This helps them in promoting employee interest in business and enhances participation towards productivity.
Customers are prioritized by providing healthy products at affordable prices and quality. By launching new products such as McAloo Tikki, McCafe, etc., they support their attraction towards their magnetizing advertisements (Maak, Pless & Voegtlin, 2015).
McDonalds’s sustain society with the belief that they will provide significant support in upbringing their ethical consciousness. For instance, The Ronald McDonald House Charities works with McDonald's and thus helps in running various CSR activities.
Therefore, the major role of the firm in developing the ethical relationship with its stakeholders lies in compensating its process thereby aids in minimizing the impact of ethical issues faced by them.
METHODS
This is a secondary study which is entirely based on using various data procuring sources such as online modes, McDonald’s websites, books, newspaper, and articles.
RESULTS
The present research is undertaken to assess whether McDonald standardize on the global basis or not. Through investigation, it is examined that although the firm is facing various issues that are related to the environment, health concern, etc., it becomes necessary to acknowledge its CSR plans, strategies focused towards business partners, customers, community, etc. (Magrizos & Apospori, 2015).
DISCUSSION
Through the section, there identifies McDonald’s working to be effectively made on the global basis. Firstly, it is necessary to know the supreme power of customers and their impact on the ethical development of the firm. Secondly, value to the employee is essential as they define the manner in which company code of conduct are defined and worked out (Wang & et al., 2016). Thirdly, working on constant improvement methods must be visible through various quality and marketing driven methods. These are adopted to demonstrate ethical inclination of firm towards sustainability.
CONCLUSION
McDonald’s achievement towards continuous ethical fulfillment needs to be worked out at the global level. By applying different means of dealing with different kinds of stakeholders belonging to various regions, the company should focus on its ethics and values. Since a challenge of great ethical pressure concerning environment and health is visible to the firm, the measures to adopt attractive and favorable outcomes related to stakeholders must be well applied by them.
References
Aras, Güler, and David Crowther, eds. Global perspectives on corporate governance and CSR. Gower Publishing, Ltd., 2009.
Lee, Gilsoo, et al. "Keeping up the Fame: Celebrity CEOs' Engagement in Earnings Management and CSR activities." Academy of Management Proceedings. Vol. 2015. No. 1. Academy of Management, 2015.
Maak, Thomas, Nicola M. Pless, and Christian Voegtlin. "CEO Responsible Leadership Styles & the Microfoundations of Political CSR." Academy of Management Proceedings. Vol. 2015. No. 1. Academy of Management, 2015.
Magrizos, Solon, and Eleni Apospori. "SME CSR, stakeholder salience and financial performance: a conditional relationship." Academy of Management Proceedings. Vol. 2015. No. 1. Academy of Management, 2015.
Wang, Heli, et al. "Corporate social responsibility: An overview and new research directions thematic issue on corporate social responsibility." Academy of Management Journal 59.2 (2016): 534-544.