Business Growth Of Philips: Internal And External Stakeholders

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.

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.

The first key group of stakeholders are the employees. These include both managers and regular employees at all levels of the organization. The managers are in charge of overseeing certain departments within the corporation. Managers must also work to implement the company strategy and work towards accomplishing the company’s

Stakeholders are those individuals who may be affected or have an effect in an organizations depending on the decisions that may have been made. One of the most important reason for identifying and understanding shareholders is that it allows the organization to recruit them as part of the effort in anything there are involved in. participatory effort and representation of as many stakeholders as possible ranging from internal to external has possible advantage. Internal stakeholder is a groups within an organization who work directly within the organization, such as employees, owners, and investors. In the other case external stakeholders

The stakeholder theory made popular by Ed Freeman (1984) does seem to represent a major advance over the classical view (Freeman, 1984). It might seem inappropriate to refer to the stakeholder position as neoclassical. Bowie (1991: 56-66) has defined stakeholders as a group whose existence was necessary for the survival of the firm--stockholders, employees, customers, suppliers, the local community, and managers themselves.

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.

The purpose of this paper is to recognize the definition and what a stakeholder is and what it does. I will also explain the two groups of the stakeholders and put the stakeholders in the group where they belong. I will explain what the stakeholders responsibilities are, what their ethical responsibilities to the company. Will explain what would be the appropriate response to the situation in the company. And finally explain what Joe should propose to the management team and how Joe should support his proposal.

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

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.

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

Philips and Matsushita are two electronic (equipment and service) based powerhouses who had to expand their business to the international market. One my ask why they needed to operate internationally… each company, Philips and Matsushita, wanted to stand in front of their peer companies as the market leader in the industry. In order to do this, each company would go through various changes, some of which hurt and some of which

In general ,the stakeholder approach may be more conducive to balancing a wide variety of corporate interests and thereby discouraging impropriety.Executives and boards should take the perceptions of both shareholders and stakeholders into account when formulating strategy and enunciate their stance in all organizational communications. Only within that kind of clearly delineated context, can managers be expected to make appropriate decisions. Indeed, some of the most successful businesses are those which have embraced stakeholder values for example Bodyshop. However, we see that generally, shareholder value

My company is FedEx. The company's stated mission, as per its website (2013) is that it "will produce superior financial returns for shareowners by providing high value-added logistics, transportation and related business services through focused operating companies." This mission statement highlights the following stakeholders: the shareholders and the customers. A further stakeholder not mentioned but critical to FedEx is the company's employees. For example, an often-cited maxim at FedEx is People-Service-Profit, highlighting that it is the people who deliver the value-added for the customers, and that this is how FedEx delivers profits. The company also mentions its partners as key stakeholders, and there will be the usual tangential stakeholders like governments, competitors, potential customers, and suppliers. Most of these are external stakeholders the internal ones are the employees and the shareholders. All managers, even senior managers, are employees and most are shareholders as well.

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

It is in facts generally believed that corporations rely on critical factors that allow them to face the competitive pressures in the marketplace. The focus of these interviews is therefore dedicated on the stakeholder analysis, on the management of the people that compose working teams, and on the management of information flows within the company.