Unit 1 Business Environment

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Unit 1 Business Environment Ana Maria Vid 27th Nov 2015 Unit 1 Business Environment I hereby confirm that this assignment is my own work. I have identified and acknowledged all sources in this assignment and have referenced according to the Harvard referencing system. I have read and understood the Plagiarism and Collusion section provided with the assignment brief and understood consequences of plagiarising. Name: Ana Maria Viorica Vid Registration No: Signature: AV Date: 27th November 2015…show more content…
Thus, stakeholders can be internal or external to the business. A stake is a vital interest in the business or its activities. It can include ownership and property interests, legal interests and obligations, and moral rights.’’ (Grimsley, 2015) BA stakeholders can be affected by BA performance or BA performance can be affected by stakeholders. Therefore it is important that BA satisfy stakeholder’s needs. On the other hand, stakeholders have commitments and should work together for the wellness of BA. British Airway internal stakeholders are: Employees – it is important to satisfy employee’s needs, so they are motivated to use their skills to help the organisation. In order to keep them satisfied those needs, BA recognises their performance, makes them feel valued, promotes and rewards for their performance. Additionally, a health and safety workplace and flexibility leads to employee satisfaction. Sub-contractors- BA ensures that their feel appreciated and rewarded for their effort within the company. Investors – BA ensure to keep them happy by performing higher profits and therefore better returns. Shareholders- BA aims better business performance in aims increase in profits, so they will be happy and satisfied with the return. Also, by involving them in decision making can make them feel valued. Managers- It is important to take in account their needs. Therefore, competitive salary, flexible hours,
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