Describ the Types of Stakeholders Involved in Two Contrasting Businesses

Ethics are concerned with the fundamental concepts and principles of decent human conduct; which is having a sense of what is right and wrong. Utilitarianism

The first stakeholder I am going to evaluate is customers which are external stakeholders. Customers contribute to profit levels and turnover through buying products and services. People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of money to purchase a product, so if the product is cheaper in one store, such as Tesco, than in another store then customers will buy the cheaper one which then attracts more customers.

Customers make purchasing decisions based on the information they have among products and the values of goods a company offers. For that reason, companies have to promote their products to increase products awareness. In order to achieve organizational goals, companies must understand the market’s needs to ensure the success of their businesses. Such information can be gained through research. The industry that will form the basis of this paper is Western Canadian Shoe Association. The three brands under study are Reebok, Adidas, and Nike.

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.

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.

In this task I will be describing eight different stakeholders which are; customers, employees, suppliers, owners, trade unions, employer associations, local and national communities and the government. I will be stating what they are, who they are, why they useful, how they influence stake holders on organisation and why they are useful to business I have chosen which is Tesco and The British Heart Foundation.

Stakeholders are anyone who has a interest or influences the business in anyway. There are two

The ownership of Oxfam is that it is a charitable trust; therefore it does not have an ownership. However, it can fall under the voluntary sector because Oxfam is supervised by trustees who set up to provide a service to the wise community in order to raise funds and support those who are in need. If something was to happen to Oxfam, they have a choice to donate to another charity and keep the business running.

(M1) Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations

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

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.

Oxfam is a charity and has no ownership this means they create their own goals and amount of money to achieve to give straight to the cause.Whereas businesses have objectives and payments that needed to be added to how much money they need to make to pay their owners that help fund the business.Oxfam do need to achieve their aims as a charity so that they achieve their purpose.Oxfam need the following things to achieve their purpose as a business/charity.The first thing is a small workforce and many volunteers;Oxfam need this because it reduces their salary cost ,enabling them to give their earned money directly to the cause with no hold backs or bad impacts on the money.Secondly they have staff working out in the countries and communities

Case Study of Boots Plc Boots Plc have various kinds of stakeholders in their business who do various kinds of jobs suitable for which group there are in. Like any other Plc their stakeholders at least have a say in the business depending their role. E.g. shareholders have a bigger say than the employees who have very little say in the business. Boots Plc have the following external stakeholders in their businesses that play different roles between them are: - Ø Pressure Groups

Boots is a pharmacy chain operating in the United Kingdom, Ireland, Norway and Thailand mainly. Its headquarters are in Nottingham and it is part of the Walgreens Boots Alliance. Boots aims to be the leading healthcare and wellbeing products provider in the markets it covers. In the UK alone it operates 2500 stores enabling it to be the market leader. The company is founded in 1849 and went several downturns before attaining the stage of market leader it occupies today. The alliance that owns both Boots is public and traded in NASDAQ, employs 400,000 people and had a revenue of USD 117B in 2016. Boots goal is to assert itself in the healthcare products market and ensure quality services for its clients.This report will cover the operational aspect of Boots and its potential areas of its growth. This report will also cover the organizational construction of the company, the strength of its business model and what sets it aside from other companies operating in the same sector.

“Stakeholders (or interest groups) are tangible, visible and approachable groups or institutions which have a direct influence on the functioning of an organisation.”