Btec Business Level 3 Unit 1 P1
A stakeholder is someone who has interest or concern for an organisation or business. Stakeholders can be affected by policies, aims and objectives. An example of stakeholders would be employees and the government. Stakeholders can be individuals, groups and organisations. Owners of a business would be concerned about profit the business or organisation makes. Managers that manage supermarkets like Sainsbury’s are worried about their salary. Workers within Sainsbury’s are concerned about their wages and want to keep their job. Customers shopping at Sainsbury’s want the supermarket to supply goods that have quality at a low affordable price. Suppliers that supply the products and goods want the business to continue buying their goods and groceries. There are two types of stake holders, which are internal stakeholders and external stakeholders. Internal stakeholders are people within a business, examples include employees and managers. External stakeholders are people who are outside of the business; an example would be the government and customers. I will …show more content…
If customers feel that the service provided by Sainsbury’s is bad, they’ll stop shopping there, which will also cause their profits to decrease. Large supermarkets chains like Sainsbury’s are supposed to buy their supplies from reliable suppliers. This will ensure that customers continuing to shop with them. Customers are a major stakeholder to every supermarket as the majority of profit made by Sainsbury’s comes from them. Customers influence NSPCC, as they donate a certain amount to the charity. This money could be used to help fund them. NSPCC also claim that 90% of the donations made are from people. They claim that if someone donates £10 a month, their money aims to help a child overcome the effects of
Similarities Between Sainsbury's And Oxfam
3141 Words | 13 PagesStanmore Gazette Newspaper Series Title: Business Watch By: Dilpesh Patel Date: Friday 26th September 2014 Article Title: Article 1: An investigation into organisations located in London from different sectors. In this article I will be describing the purpose and ownership of my two chosen organisation, which are Sainsbury’s and Oxfam.
Business Level 3 Unit 2 P2
813 Words | 4 PagesThe job I have chosen is a Sales Assistant. You are required to have good communication skills and have a positive attitude. Traveling costs: 18x2= 36x22 days = R792 Total cost = travel cost + accommodation+ food + other R792 + R2000 + R500 + R200 =
Richard Graeter's Stakeholders
259 Words | 2 PagesA Stakeholder is any individual who has a vested interest in a business and is affected by the organisations decisions and strategies (Pride, Hughes & Kapoor 2015, p. 10). Therefore, the people most affected by Graeter’s decisions to take a long term view of the business rather than aim for short term profits are the family members who have a stake in the business. At the present, Richard Graeter II (CEO), Robert Graeter (vice president of operations) and Chip Graeter (vice president of retail operations) manage the business and are responsible for all the decisions regarding its operations. Graeter’s management team have chosen to forgo the opportunity for short term profits by adhering to the traditional manufacturing process used by Louis
Case Study: Omnicane
257 Words | 2 PagesCSR and strategy From the sustainability report, Omnicane is viewed as the major player of energy generation, so it is adapting best practices and principles with the Group’s mission. Its strategic objectives are to ensure that all operation of Omnicane is concerned with the group’s sustainability and having the important resources to carry their operation in an environmental manner. They ensure that at all stages in the development of new projects the environmental and social sustainability is taken into consideration. The CSR engagement is fruitful and for the interest of the local community. The stakeholder believes and invests in a strategic way with the main shareholders to strength the company capacity into governmental and
How Should You Prioritize Your Stakeholders Essay
713 Words | 3 PagesHow Should You Prioritize Your Stakeholders Working in a global organization gives us the opportunity to interact with various sorts and varieties of stakeholders, the actions we take and the projects we run will affect more and more people. The people we affect are those who can contribute to our overall growth or fail the projects. If we can prioritize correctly, they can provide industry insight, highest commitment or even powerful outcome that can help our organization achieve the goals. To clarify, a stakeholder is any individual or group of people who will be impacted by changes resulting from the business initiative, and can influence the success of the business initiative.
The Stakeholders In The Broderick Corporation Case
970 Words | 4 PagesBoth of these stakeholders are considered to be internal stakeholders, or people who work directly for the company. Other potential stakeholders not mentioned in this scenario may also include shareholders, such as investors who purchase the company’s stocks,
Tesco Five Forces
1468 Words | 6 PagesThe force of focused contention in the food and basic need retail industry is to a great degree high. Tesco faces extreme rivalry from its immediate rivals, including Asda, Sainsbury 's, Morrison 's, and Waitrose, which are contending with one another over value, products, and advancements discontinuously. It ought to accordingly be highlighted that Asda is one of the key rivals in this fragment with an expansion of piece of the overall industry from 16.6% to 16.8% amid the financial year 2010/09, while Sainsbury 's has demonstrated an increment to 16.1% from 15.8% and Morrison 's to 11.6% from 11.3% through the same period. The moderate business sector development implies that these expanding pieces of the overall industry from competitors
Walmart Strategic Management Case Study
1052 Words | 5 PagesFreeman’s (1984) work intention to re-conceptualize the nature of the firm to inspire the consideration of new external stakeholders, beyond the traditional pool legitimizing in turn new forms of managerial understanding and action. The motive of stakeholder management was to try and establish a framework that concerning to the managers who were being struggled by unprecedented levels of environmental change and instability (Freeman & McVea, A stakeholder approach to strategic management, 2001). Stakeholder theory challenges the stockholder theory by arguing that there are more “stakeholders” with an interest in a corporation than just the stockholders and these other “stakeholders” need to be taken account of and given a say in the running of the corporation. Those other stakeholders consist of customers, suppliers, employees, competitors, communities, local and national government, political groups, trade unions and the environment (Ekornes Mertens,
Involving Internal Stakeholder Engagement
963 Words | 4 Pages1. Stakeholder Engagement: a. Involving Internal Stakeholders: Involving internal stakeholders who ultimately implement strategic decisions is a useful mechanism for ensuring that social issues are considered in strategic decision making. While the process may not be the easy way to make a decision but involving bottom of the pyramid helps ensure that perspective of all the stakeholders is considered. Trust for decisions that will likely have an impact on the working lives of staff. Finally, involving a diversity of ideas of employees in decision making often leads to more effective and innovative solutions to the problems.
Monsanto: Stakeholders
379 Words | 2 PagesStakeholder are individuals, groups or community that has interest or concern on the growth or functioning of the organization. The various stakeholders for company Monsanto are shareholders, customers, employees and so on. The company Monsanto has honest intentions to keep an ethical culture that answers to shareholders. The company Monsanto adopted a Code of Conduct for CEOs and CFOs of the company.
Two Types Of Stakeholder Analysis Of Mcdonalds
755 Words | 4 PagesStakeholder analysis Stakeholder are entity that will affect the organization actions, objectives and policies. There are two types of stakeholder which is internal stakeholder and external stakeholder. The McDonald’s stakeholders are customers, suppliers, employees, managers, government, local communities and pressure groups. Customers Customers are the external stakeholders of the company, no customer mean zero profit.
Elements Of Stakeholder Management Approach
894 Words | 4 PagesIntroduction “Stakeholder management is critical to the success of every project in every organization I have ever worked with. By engaging the right people in the right way in your project, you can make a big difference to its success... and to your career. "-Rachel Thompson A stakeholder can be a person or a group, or an organization that may be affected, or have any kind interest in the project or in project’s outcome either directly or indirectly. Stakeholder management helps in differentiating the project with the others, it ensure that your project is successful and progressive throughout.
Lindt & Sprüngli Case Study
700 Words | 3 PagesLindt & Sprüngli, more commonly known as Lindt, is a confectionery company that produces Swiss chocolate. It all began in 1845 in Switzerland. Lindt & Sprüngli offers plenty of chocolate flavors (milk, dark, white…) in all format (boxed, bars…). Concerning its value chain, the company deals with high standards of sustainability and ethics because it is an important factor for its long-term success. Stakeholders are people in the organization that can affect or be affected by its policies, actions, and objectives.
Importance Of Stakeholders
861 Words | 4 PagesA stakeholder is a party that has an interest in an organization, and can either influence or be influenced by the business. The primary stakeholders in a typical corporation are its investors, employees, managers, suppliers and customers. Nevertheless, the idea incorporated with the modern theory goes further than this original notion in including additional stakeholders such as a community, government or trade association. As per corporate social obligations majority of the organizations are especially concerned about stakeholder values rather than shareholder values. Because of this, stakeholder objectives such as better working conditions, salaries to employees, sponsorships and donations to the customers and potential customers, paying
Three Steps In Engaging With Stakeholders
1661 Words | 7 Pages2.2 STAKEHOLDERS A stakeholder is any individual or group that either positively or negatively, impacts or is affected by the choices and activities of an organization. It can likewise be alluded to as any individual or group who has a personal stake in the result of an organization's activities. Stakeholders are classified in view of the degree to which the choices of the organization influence them. We have the individuals and groups who are directly influenced by the choices of the organization, and there are the individuals and groups who are not specifically affected by the choice of the organization. Cases of direct stakeholders include employees, creditors, contractors, investors, owners, customers, clients, consumers, shareholders,
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