Business Growth Of Philips: Internal And External Stakeholders

The political environment was favorable for the operations of the company and that was the reason as to why the company expanded to offer more services in many other states in the US. The economic environment affected the operations of the company. The 2008-2009 recessions affected the sales of the company as well as profit and that made

A main component of any company are stakeholders. A stakeholder is a person, group, or organization that has an involvement or interest in a company. Stakeholders can affect a company’s actions as well as be affected by them. There are several key stakeholders in Comcast who play a large role in how the company is ran. These include managers and employees, government agencies and unions, and finally the shareholders.

Starting 2004, there has been a major change in the board, as well as management. Since then company has taken several large and aggressive approach. This can be summarised as renovating/ ex-panding retail space, re-engineering of supply chain, and improvement in IT system. Also there has been focus on brand repositioning through quality improvement, cost reduction

In February 1982, the NEXT, a British multinational clothing, footwear and home products retailer, was launched by J Hepworth. It furniture through around 500 in the United Kingdom and Ireland. It also franchises about 200 stores in 37 countries overseas. Next is the largest clothing retailer by sales in the United Kingdom, having overtaken Marks & Spencer in early 2012 and 2014. Its other group business includes NEXT Sourcing, which has operations in Asia and the UK engage in merchandising and quality control of NEXT products, and Lipsy ,the younger women’s brand that Next acquired in 2008,design and sells fashion products.

Stakeholders are the people whose interests are critical to organisation’s success. Their direct or indirect involvement in the operations and strategic decision about the business determines the organisation’s performance.

Stakeholders are individuals or groups that partake, or assert, possession, privileges, or benefits in a, organization and its accomplishments, previously currently, and in the upcoming (Barrett, 2001). These requested privileges or benefits are the result of communications with, or activities reserved by the organization, and they must be lawful or ethical, separate or combined Stakeholders with comparable benefits, entitlements, or privileges can be categorized as fitting into the similar collection: personnel, investors, and clients (Barrett, 2001). The better the impact these groups have on client’s lives and the extra community assets with which they are assigned, and it becomes vital that they are responsible (Barrett, 2001).

The following paper provides understanding on identifying the stake-holders (First paper) deliverable in the 3- paper series associated to “Stakeholder Management”.

The illustration shows the typical stakeholders of an organization. The stakeholders are divided in internal and external stakeholders. This executive report will address the external stakeholder’s financial and operational strengths. (1)

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.

Stakeholders plays a significant role in today’s organization. “Stakeholders include any person, group or organization that has an interest in the activities and affairs of a company.” (Kokemuller, 2016) Stakeholders can also include people inside and outside of the organization. Some example of stakeholders includes employees, customers and suppliers. An external stakeholder such as the organization’s employees plays a significant role in customer value proposition. It is very important that for the organization to care for their employees as much as they care for their customers. Additionally, showing commitment to employee’s needs/want is also just as important as showing commitment to customers. “The notion is that if you take care of your

People often think of stakeholders as people with a monetary stake in an organization, but not necessarily true anymore. In the past, people considered stakeholders the people with a financial stake in the organization that would receive profits from the success of the business. Today stakeholders cover a much broader spectrum of people such as funders, administration, staff, volunteers, community, and the target population (Yuen/Terao, 2003). Each group of stakeholders has his or her influence on the program plan as well as the success of a human service organization and programs services (Yuen/Terao, 2003).

Daft (2012) defines stakeholders as “any group within or outside the organization that has a stake in the organizations performance.” Stakeholders within the organization include the owners, managers and employees while external stakeholders includes the organizations customers, suppliers, community, workers unions, creditors as well as the government. Due the variety as well as different nature of the stakeholders, each stakeholder has a different expectation from the organization as concerns their stake. It is from this characteristic and expectation that each stakeholder will be affected differently by actions and decisions as well as policies and practices implemented by the business from those of another stakeholder (Carroll & Buchholtz, 2014). This also means that the different stakeholders will act or make decisions that affect the business in a way best situated for them. Carroll & Buchholtz (2014) discuss the relationship between the business and stakeholders as one that has a two-way interaction; businesses will affect stakeholders as well as stakeholders affect the business, that is an interchange of influence. The complexity of the stakeholder-business relationship calls for

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

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

Each stakeholder has a different criterion of responsiveness, because they have a different interest in the organization. Most organizations are similarly influenced by a variety of stakeholder groups. Investors, shareholders, employees, customers and suppliers are considered primary stakeholders, without whom the organization cannot survive. Other important stakeholders are the community, which have become increasing important in recent year.