p2 describe the different stakeholders who influence the purpose of two contrasting businesses
1028 WordsSep 27th, 20135 Pages
P2- Describe the different stakeholders who influence the purpose of two contrasting businesses.
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.
The key stakeholders in a business include customers, suppliers, employees, local and national communities and governments.
Customers want a business to produce high quality value for money products. Customers…show more content…
The staff/employees of Oxfam influence the charity greatly and are the main reason as to why the charity is successful. They provide the friendly customer service to those who decide to shop at the Oxfam stores. Staff usually do work for free so this allows Oxfam to spend more on developing third world countries, again this has an impressive influence.
Suppliers want steady orders and prompt payment, they also want to feel valued by the company that they supply.
Suppliers are interested in supplying Tesco with goods because of the business they get from them and the profit that they receive. They influence Tesco because if the suppliers go out of business then Tesco will have to find new suppliers that may not offer the same high standards as the previous supplier.
Suppliers/donators influence Oxfam greatly. Without the public supplying Oxfam shops with goods to sell, the shops would fail and would not be able to raise money to support the charities work for third world countries.
This may be a sole trader or partnership. In a company it would be the shareholders. A charity would be considered to be owned by trustees' owners often have a great influence on the business and are considered important stakeholders because they might have put a good part of their life into setting up a business. Owners like to see the success of profit making and the growth of the business.
Measure the influence different stakeholders exert in one administration
I am traveling to measure the influence that stakeholders exert on Tesco. I will be measuring the undermentioned stakeholders: clients. employees. stockholders and providers.
The first stakeholder I am traveling to measure is clients which are external stakeholders. Customers contribute to net income degrees and turnover through purchasing merchandises and services. Peoples are stakeholders in a company for fiscal grounds. clients do non desire to hold to pass an inordinate sum of money to buy a merchandise. so if the merchandise is cheaper in one shop. such as Tesco. than in another shop so clients will purchase the cheaper one which so attracts more clients.
An organisation survives through client trueness i. e. holding regular clients. Tesco ensures that they get regular clients by giving them trueness cards. publicities such as “buy one get one free” . price reductions and other particular offers. Tesco are acquiring regular clients which bring in more net income which so can be used to assist spread out the concern. Tesco made client trueness selling work when so many other retail merchants failed. They give graphic penetrations into how Club card benefits Tesco and more significantly. its clients.
Customers demand cheaper merchandises so local and national shops such as Tesco will seek to hold the cheapest merchandises for clients to purchase which so encourages competition between the shops. whichever shop has the cheapest monetary value for a peculiar merchandise so they would be pulling all the clients.
The 2nd stakeholder I am traveling to measure is employees which are internal stakeholders. An employee is any individual hired by an employer to make a specific occupation. Employees are of import as any other stakeholder because they have first contact with clients so if the clients want to inquire a inquiry about the organisation or about a merchandise so the employees can assist with that and that employees could besides urge merchandises to clients which will convey in more clients.
Employees can act upon the success of Tesco by their productiveness and efficiency in the occupation. responsibilities and undertakings they do every twenty-four hours. They can besides fall back to industrial action if they disagree with working conditions. wage or company policies. This could take the signifier of work to govern. prohibitions on overtime. sit-ins or in utmost instances backdown of labor ( a work stoppage ) . Treating employees as their most valued assets. advancing a nondiscriminatory work environment and actively affecting employees in of import determinations are among the ways Tesco has been influenced by accent on employees as a stakeholder influence.
Interest and outlooks of Tesco:
Carnival footings and conditions
Directors who help
To be treated with regard
Opportunities to acquire on
Health and safety work topographic point
It is critical that we listen to and prosecute with our people as frequently and every bit good as we do with our clients. Our staffs give anon. feedback through our one-year point of view study.
The 3rd stakeholder I am traveling to measure is stockholders which are internal stakeholders. A stockholder is any individual who is an proprietor of portions in a company. Stockholders can act upon a concern in many ways. Stockholders have direct influence on a concern because they have voting rights on major corporate determinations. Stockholders vote. for case. on elections of Tesco board members. If Tesco leaders want to divide the company’s stock or whirl off a separate concern unit. stockholders normally have a right to vote on the move. Additionally. Tesco holds an one-year meeting where stockholders can voice concerns and feedback. Activist stockholders who own big sums of stock may besides voice concerns publically in an attempt to rock company determinations.
Stockholders impact the attack Tesco to take other stakeholders. including employees. clients. concern spouses and environmental groups. Other times. stockholders purchase stock because of both the fiscal benefits and Tesco’s societal and environmental duty.
The 4th stakeholder I am traveling to measure is providers which are external stakeholders. Suppliers are person whose concern is to provide a peculiar service or trade good. Suppliers can make up one’s mind whether to raise monetary values for orders which can evidently impact a Tesco’s net incomes. Besides a supplier’s dependability could impact production. If orders do non get on clip finished goods may non be ready to set out to clients. Suppliers can besides alter recognition footings which may hold hard currency flow issues for Tesco’s and they could make up one’s mind whether or non to let price reductions for bulk orders or loyal clients. Suppliers are every bit of import as any other stakeholders because they are the 1s that are giving you all the goods so you can sell and do a net income and run a concern.
Tesco has built strong long-run partnerships with providers at all degrees. This partnership attack ensures that their clients have a dependable supply of goods. and new and better merchandises through investing and invention. Tesco does non promote patterns which are unsustainable such as below-cost merchandising. These are bad for providers. and are hence bad for clients and for Tesco. A partnership attack benefits our providers by giving them a certain and turning market for their merchandises. regular payments and payments on clip. and our committedness to sharing our apprehension of clients and altering consumer behavior.
Tesco know that they can’t achieve their aspirations entirely. They worked with their stakeholders to do certain they use their graduated table and expertness to lend to society. every bit good as to happen out what they already are making good in and where they can better. By making this Tesco has become Britain prima food market retail merchant. I believe that all stakeholders influence Tesco in their ain manner up to a certain extent.