Unit 20: Investigating Corporate Social
Responsibility
CSR
, Introduction
In this report, I will look at the CSR challenges that two major companies, as
well as their stakeholders, face. McDonalds and Lloyds Bank are the two
largest businesses which I will be discussing in this report. Corporate social
responsibility demonstrates how a company acts ethically and regards its
customers. Customers will be drawn to a company that practices good CSR,
and stakeholders will be pleased which is the reason CSR plays a key role
within this business.
MacDonald's
MacDonald's is one of the world's biggest fast-food restaurants to ever open
in the world. The most typical foods sold at McDonald's establishments
include burgers, cheeseburgers, chicken nuggets, burgers, French fries,
breakfast dishes, soft drinks, milkshakes, and desserts. The menu also
includes salads, apples, milk, and Snack Wraps. Children's lunches are also
available.
Lloyds
Lloyds Banking Group is a significant financial services group based in the
United Kingdom that offers a wide number of banking and financial services
to both individual and business customers.
Stakeholder
Someone who has an interest in a company and can influence or be
impacted by it is referred to as a stakeholder. In a typical business, the
primary stakeholders are investors, employees, customers, and suppliers.
For example, a customer is a stakeholder as, as customers are looking for
excellent quality products for a fair price. Without the customers, the
business will not be able to operate.
MacDonald's
Mis advertising, which is an example of A CSR issue, could have a negative
impact on MacDonald's and is unethical for the business. This is due to
providing false information, a customer leading them to have a wrong
expectation of a product as an outcome. This could lead to a bad reputation
for the company by the customer. This can also weaken the relationship
between the customer and the business as the customer may feel they have
been lied to and may decide not to come back. Due to this, it profits of the
business can decrease. A new McDonald's misleading marketing complaint
has indeed been launched from customers who allege that the food service
giant's promotional materials are inaccurate and may encourage customers
to purchase a grilled chicken burger that is not as organic as represented.
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