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. There are two types of stakeholders- internal and external. Internal stakeholders mean the business/organisation that runs the activities, for example – managers, employers, supervisors etc. On the other hand, external stakeholder means when the business/organisation depends on external factors that can affect the businesses’ decisions: for example- customers, suppliers and the government. There are 8 key stakeholders’ components in a business and they are …show more content…
Customers are the external stakeholders of a business. The second key stakeholder is the employees. An employer is an individual who works either full-time or part-time under a contract of employment for a business and they are getting paid. The main reason why employees are one of the components for the stakeholder of a company because the business/company provides the employee with a livelihood. If an employer works really well, they are more likely to get promotions and move up from different roles, for example – a sales assistant to a supervisor. If an employee doesn’t get treated right due to issues such as discrimination, they are more likely to not be satisfied with their job and they will not work towards their best potential. They are also more likely to quit. If an employee quits, this will cost the business/organisation more money to find someone else to replace their old employee. The advantages of employees are that this will increase the country’s employment percentage because more people are joining the labour force; this will provide the employees a better standard of living because they are earning more and this will increase the level of staff motivation because this will motivate them to do their best and they can receive promotions and
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
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.
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.
External stakeholders are stakeholders who are not as involved within Tesco PLC and RSPCA as much as the internal stakeholders but are involved in some way.
Another stakeholder within Tesco is the shareholders. The shareholders are internal stakeholders. A shareholder is someone who owns a part/share in a company. There
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
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
An organisation has external stakeholders and internal stakeholders. External stakeholders are individuals or groups outside the business who are linked to the organisation in some way but not directly these can be customers, shareholders, society, suppliers and the government. On the other hand are Internal Stakeholders, these stakeholders are individuals or groups who work directly inside the business. These are the employees, managers and owners of the company.
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.
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 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.
A stakeholder is someone who someone who benefits or is burdened by a corporation, or someone who the corporation benefits or is burdened by. (Steiner). Stakeholders are represented by two main groups; primary and secondary
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.
These same internal and external stakeholders can also be classified as primary/secondary stakeholders and direct/indirect stakeholders. “Primary stakeholders have a major interest in the success of the project because they