Stakeholders Of Two Contrasting Businesses

The purpose of this assignment is to understand the range of different businesses and their ownership. I chose Sainsbury’s and Oxfam as they are businesses with different characteristics from each other, as I needed to choose one big company (such as PLC (public limited company) or LTD (private limited company)) and a small business (such as partnership, sole trader, non-for-profit business). In fact, Sainsbury’s is a supermarket and Oxfam a charity. This assignment will cover the purpose and ownership of the two businesses, the stakeholders of each business and how they affect the business.

Employees- Employees expect from the company to provide them with a source of income. They also want to work for the company they are interested in. The company they feel proud about and want it to progress.

the welfare of their employees and how they want to keep their employees satisfied in turn

My chosen businesses are KFC and NHS. These are the businesses I will be discussing the purpose and ownership. I will also mention the internal and external stakeholders of these two businesses.

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

The company has mission, vision as well as core values. Its mission focuses on creating a conducive environment where guest satisfaction is its highest priority. Its vision focuses striving hard in order to surpass its own accomplishment for the purpose of recognition in the industry as the leader. Lastly, its values are passion of excellence, integrity, respect and responsibility, people, service-Mindedness, Dynamic leadership and high performance (Kliman, 2006). The company's mission, vision and core values help in bringing together all the employees towards achieving a common goal. In addition, they help them to remain focus to certain objective (Gabriel, 2008). This has

There are three internal and one external governance mechanisms used for owners to govern managers to ensure they comply with their responsibility to satisfy stakeholders and shareholder’s needs. First, ownership concentration is stated as the number of large-block shareholders and the total percentage of the shares they own (Hitt, Ireland, Hoskisson, 2017, p. 317). Second, the board of directors which are elected by the shareholders. Their primary duty is to act in the owner’s best interest and to monitor and control the businesses top-level managers (Hitt, Ireland, Hoskisson, 2017, p. 319). Third, is the

In their theories of how a business should operate, R. Edward Freeman and Milton Friedman hold virtually opposite beliefs as to what businesses’ responsibilities should be. In favor of the Stakeholder theory, Freeman believes that any person or organization that has a “stake” in the business should also play a role of participation in the business’s actions and decisions. In the other corner of the ring stands Milton Friedman, who holds the belief that said business is only responsible for those that actually own stock in the business – the owners, or stockholders.

The stakeholders in my future restaurant are the customer who will dine in or obtain carry-outs, which will provide revenue. The customers will ideally benefit from good food and a pleasant experience, which will also make them return. All of the employees as they will be representing the restaurant and servicing the customers. Happy employees generally equal happy customers, so if your employees are satisfied with their benefits, compensation and feel rewards

This is because they are the top of food chain because without the customers this means that the business will not function properly. The customers also want good value for the money they give; if they do not find it good then they will start to shop somewhere else making the organisation lose out. Employees (internal) - they have to be looked after and treated well as this will affect the customer service that is given to the customers. If employees are giving bad customer service to the customers then this will make the customers want to shop somewhere else as they wouldn’t want to be mistreated.

Also, decisions are made for the best interest of the customers, employees, and stakeholder through acquisitions and being able to measure their success through sales and the satisfaction of services throughout the community and the world.

Common goals and potential synergy between an organisation and a stakeholder is identified by understanding the needs and interests of an organisation and the stakeholder and establishing goals that can be long or short term that will be able to meet the needs and expectations of the stakeholders. You can establish these goals by communicating and negotiating with the stakeholders. By communicating you will also be able to understand what the capabilities of the stakeholder are with resources and finances.

If the company suffers then so do their pay cheques or they may possibly loose their jobs? All other employees of the company have the same influence and interest, just with less power over important decisions. Suzy’s customers have a big influence on her company, if they like the product and service, they will stay loyal and possibly buy more. Her suppliers have a big interest in the company as Suzy is buying from them, if the suppliers produce is good quality this influences the joy of chocolate in a good way. Where as if the produce is bad quality Suzy will loose business and probably change suppliers. Suzy’s customers are also stakeholders, if her customers don’t like her products then they will stop buying and sales will decrease. Another is the bank, they have an interest in the companies success because they want the loan payments on time every month, college is also a stakeholder, they have an interest in getting their students working placements to hopefully get them the experience they need and a possible career route as well as Suzy gaining educated employees.

Question: Taking into account Figure 3.4 on page 45 of your textbook (Stakeholder Typology: One, Two, or Three Attributes Present) discuss the ‘Ethics in Practice case’ on page 46 (Are Plants and Flowers Stakeholders? Do they have rights?)

The principals (the shareholders) have to find ways of ensuring that their agents (the managers) act in their interests.