P2- Describe the different stakeholders who influence the purpose of two contrasting businesses.
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. There are two different types of stakeholders; internal and external. Internal stakeholders are groups within the business e.g owner/workers and employees. External stakeholders are local and national communities and governments, these are groups outside of the business.
The key stakeholders in a business include customers, suppliers, employees, local and national communities and governments.
Customers want a business to produce high quality value for money products. Customers
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The staff/employees of Oxfam influence the charity greatly and are the main reason as to why the charity is successful. They provide the friendly customer service to those who decide to shop at the Oxfam stores. Staff usually do work for free so this allows Oxfam to spend more on developing third world countries, again this has an impressive influence.
Suppliers want steady orders and prompt payment, they also want to feel valued by the company that they supply.
Suppliers are interested in supplying Tesco with goods because of the business they get from them and the profit that they receive. They influence Tesco because if the suppliers go out of business then Tesco will have to find new suppliers that may not offer the same high standards as the previous supplier.
Suppliers/donators influence Oxfam greatly. Without the public supplying Oxfam shops with goods to sell, the shops would fail and would not be able to raise money to support the charities work for third world countries.
This may be a sole trader or partnership. In a company it would be the shareholders. A charity would be considered to be owned by trustees' owners often have a great influence on the business and are considered important stakeholders because they might have put a good part of their life into setting up a business. Owners like to see the success of profit making and the growth of the business.
There are many stakeholders involved in Macmillan and BT. A stakeholder is someone who effected directly or indirectly as a result of the activity of the business. These stakeholders can be internal or external. An internal stakeholder are people who are within the business such as the owners or managers. External stakeholders are people who are outside of the business such as suppliers or the community. Either way, they all have a relation to the business which will effect them.
Firstly Stakeholder is an individual or a group who has an interest in the success of a business I delivering high results and maintaining the viability of the business’s products and services.There are internal and external
Stakeholders are people that have an interest in the success of business and play a role in the survival of that business. They tend to submit monthly amounts of money
A stakeholder is a person or a group of individual who are interested in the success of a business in delivering successful results and maintaining the activity of the businesses products and services. There are internal and external stakeholders in every company. An internal stakeholder is someone who is internally connected to the business that have personal interests which they may follow. An external stakeholder can be a person or a group of people such as investors, customers, suppliers, people who are predisposed by the business but are not fully in the business.
A supplier at Tesco PLC may have conflicts with other suppliers over sales. For example, other suppliers may sell similar stock such as food for similar prices. This is a conflict because the suppliers at Tesco PLC can lose out on orders which will mean less revenue for the suppliers. Another conflict may be with the managers on incorrect orders or deliveries. For example, being delivered the wrong sort of stock. This is a conflict because the suppliers providing a different stock will mean that Tesco PLC will have to return them and wait for the correct stock. Meaning Tesco PLC will miss out on profit and more sales. Also, if the incorrect
Stakeholder theory looks at the relationships between an organization and others in its internal and external environment. It also looks at how these relationships affect how the organization conducts its activities. You can think of a stakeholder as a person or organization that can affect or be affected by your organization. Stakeholders can come from inside or outside of the
Stakeholders have a significant influence on the aims of an organisation. They are the people who are affected by or interested in the business. In some organisations the shareholders are stakeholders, and at times have some of the decision power. In trade organisations, customers are also considered stakeholders; therefore their needs are part of the organisation’s overall objectives.
In this assignment, I will be talking about what stakeholders mean and the different components of the key stakeholders based on two organisations: Debenhams and Water Aid. A stakeholder is when a person shows a keen interest in the activities of a business, directly or indirectly.
Tesco and Oxfam are both huge global businesses who both sell products to the general public however are organised completely different. In this leaflet I will compare and contrast organisational structures of both companies.
Bargaining Power of Suppliers: A producing industry requires raw materials - labour, components, and other supplies. This requirement leads to buyer-supplier relationships between the industry and the firms that provide it the raw materials used to create products. Suppliers, if powerful, can exert an influence on the producing industry, such as selling raw materials at a high price to capture some of the industry's profits. Tesco maintains direct professional business relationships with all their suppliers of organic food and non-food product worldwide. They also conduct supplier viewpoint surveys to find out what their suppliers think of Tesco.
Stakeholders are anyone who has a interest or influences the business in anyway. There are two
Stakeholders can be divided into internal and external claimants. Internal claimants include shareholders and employees including the managers of the firm. External claimants typically comprise customers, suppliers, bankers, competitors, governments, trade unions, alliance partners, communities and the general public. Looking further into external stakeholders one could, also include the environment.
Edward Freeman (1984 p46) stated that stakeholders; “..are those groups or individuals who can affect or are affected by the achievement of the organistation’s objectives or are those with a direct (or indirect) interest in the company..”
Stakeholders are people or groups with interest in an organization that can affect or be affected by the organization itself, its objectives, or its policies (BusinessDictionary, 2015). Each stakeholder brings their own perspective to the table based on their relationship with the organization (e.g. internal or external role), their level of experience, and their area of expertise about the subject matter they are involved with. At a high level, the list of stakeholders for any organization could include people or groups such as: customers, employees, government agencies, suppliers, unions, community resources, shareholders, and business owners. For the purpose of this assignment, I will discuss and review stakeholders relative to the
The (word) stakeholder means any person with an interest in business, someone who can contribute to the company grows and success or who benefits from its success. The various stakeholders in business have differing role and their level of involvement in the enterprise varies