Ethics Assignment

1245 words - 5 pages

Using stakeholder analysis to analyse the impact of fast food on each stakeholdersCustomers are the important stakeholders that have an interest in the company such as McDonald's because they would want the new burgers or salads and offerers of the company. According to the principle of fairness suggested by Phillips (1997), a stakeholder such as customers have invested in a company as a profit contributor through buying burger and salad. By doing that, they may sacrifice part of their income or health to purchase these high-fat food. The organization, McDonald, accepts this investment and benefit from the investment of customers. Therefore, it has the obligation to return its fiduciary duty of care to the customers. It has to provide satisfaction to the customers by meeting their demand and offering good quality of food such as healthy ingredients. As a result, the customers have the right to claim the benefit or protection from the harm. In other words, if the customers feel unhealthy after eating the food produced by this organization, they will not purchase the food and go to the competitor to buy same kind of food.The shareholders of the organization would definitely have an interest in the business because they contribute their capital to the corporation. Thus, they would want the organization to have a good reputation and be successful. By doing that, they can maximize profits from the business. Therefore, the company has to duty and responsibility to meet the stake of the stockholders by supplying what the customers' want, regardless whether the food is healthy or not. If the organization can provide a meal with good taste that meets the demand of the customer, that would be what the corporation will sell to them.As a consequence, the organization such as McDonald has a duty to respect the customer's rights and the duty to its shareholders. However, both of these duties create a conflict of interests. As stated by Milton Friedman,'s stockholder theory, the only responsibility of business is to generate profits for its shareholders within the constraint of law. Therefore, he recommends that the organizations owe positive moral obligations only to their shareholders. It can be done through minimizing cost but maximizing output, even the organization can produce the products that may harm the customers as long as it can maximize the profits. n contrast, the Stakeholder theory disagrees with Friedman in which that the company should act in the interest of the stakeholders. They suggest that the corporation's ethical responsibility to take into consider the stake of stakeholders. Hence, the principle of reciprocal altruism encounters some conflicts. As both the customers and stockholders are doing favors for the corporation, the question is whose priority does the corporation serve first in return? Is it the consumers or the stockholders?Personally, in order to minimize the gap of the interest between those stakeholders, the organization can...

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