Stakeholders are people who are involved in any way by the operations of the business. Companies have to create an engagement plan which includes the prioritization of stakeholders and steps to be taken towards them. The stakeholders of Burger King are customers, employees, community and investors which are directly and indirectly involved with business operations of BK.
The customers hold the topmost priority in the stakeholder list of Burger King as they are the main revenue generator for the organization. Customer’s interest includes quality of the product and price of the product. In response of these, Burger King provides good quality products at very reasonable prices along with sharing nutritional facts of the product to maintain the transparency with customers. Employees are the second most priority of Burger King as they believe employees are the backbone of the organization and they have endless hidden talent in their workforce. So, Burger King emphasizes on meritocracy which includes rewards and recognition for employees based on their performance. Community is the indirect stakeholders of the company having significant impact in terms of consumer influence and employee perception. In response, Burger King funds educational programs inside and outside the organization for people who are not able to fulfill their education because of monetary barriers. Investors are the least priority stakeholder for the company as they are only interested in the financials generated by the organization but hold a significant importance for Burger King as investors are the one who effects the capital availability to the organization. Hence, Burger King holds the responsibility to provide fruitful outcomes for the stakeholders through generating more and more profit (Young, 2017).
References:
Young, J. (2017, February 6). Burger King’s Stakeholders. Retrieved from Panmore Institute: http://panmore.com/burger-king-stakeholders-csr-analysis
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