Corporate Responsibility Stakeholder Perspective
Obesity and fast food
Use the stakeholder analysis to look at the impact of fast food (eg MacDonald’s) on each stakeholder group. Should the sale/marketing of fast food be regulated/ restricted? If so why? If not, why not?
Childhood obesity has been labeled one of the most serious public health issues if the 21st century. 42 million of the children under five years old are overweight all over the world, in Australia, there is a number shows 17% of the children are deemed to be overweight, which is quite a high figure and a lot public controversy surrounding this issue. Typical ethical issue being identified includes:
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These goods and services firms in turn cannot survive without a customer base. In this case it is the best interests of the advertising firms and food manufacturers to pursue a strategic stakeholder theory, as McDonalds did. They recognized some years ago that people’s attitudes towards food were changing. By pursuing a strategic stakeholder mentality they realised to stop losing customers to healthier alternatives they would have to introduce healthier menus. Thus by solely focusing on profit motive, they produced the greatest good for the most amount of people. Adam Smiths invisible hand is clear at work. Shareholders were able to maintain and increase profits while the other stakeholders the customers received healthier meals.
Finally, it comes to the questions about can the fast food industry be lied upon to self-regulate effectively or should government regulations. One aspect of the responsible marketing and consumption argument is that, unlike tobacco, junk foods can be enjoyed in moderation without causing undue harm to children or adults, as it can be enjoyed as treats and as part of a balanced diet. In addition, a review of studies that compared how many hours of television children watched a day with how fat they were has revealed that a child's TV viewing can only affect about 1 per cent of body weight.
About advertisement, the industry code – which has been running since 2009 – involves 17