ipl-logo

Evaluating Business Stakeholders

489 Words2 Pages

1.2 Evaluate business aims and show how they relate to stakeholders
Stakeholders of MWS
According to http://study.com/academy/lesson/what-is-a-stakeholder-in-business-definition-examples-quiz.html (2017)
Definition of a Stakeholder
A stakeholder is any person, organization, social group, or society at large that has a stake in the business. Thus, stakeholders can be internal or external to the business
The internal stakeholders are made up of management and employees of the company they are a vital part of the company as they know the product best of all and have a vested interest in making the venture a success
External stakeholders are those outside the company and can be the major investors in the company these can be customers or government or private investors these …show more content…

The internal stakeholders are looking at quality and very important as they make the product and if this fails then the image of the company will be tarnished and sales will fall. These stakeholders have a vested interest in the company. If the project loses money then it might not be just money that the company will lose it might be there jobs too
The external stakeholders come from different areas of society that have taken an interest in what the company produce and can see that an increase in exposure to the public will increase revenue and that there is a gap in the market for this product. They also must make sure the product is of the right quality and looking to making sure the company is profitable but just like the internal stakeholders if a stakeholder has put their entire collateral into the business it can affect them more. Even to the loss of their home and their possessions
Possible

Show More
Related

  • Btec Business Level 3 Unit 1 P1

    1016 Words  | 5 Pages

    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

    Read More

  • Business Level 3 Unit 1 P1

    705 Words  | 3 Pages

    In this assignment I am going to discuss the stakeholders of two contrasting businesses. Stakeholders of Cancer Research- Owners- For a charity the owners of the business will eventually want the firm to expand and grow over a certain amount of years, this will lead to the firm becoming more recognised and they can offer their service not just nationally but internationally.

    Read More

  • Relationship Between River Island And Oxfam

    1422 Words  | 6 Pages

    Which results to the business' success as sales are increasing and dividends given to the staff also raises. Likewise, the more people who wear their products the more chances there are to attract their potential customers to buy their products. Another external stakeholder in the business is the customers because they play a large part towards the business' success. Customers purchase the products from River Island, if they had no customers, then the business would fail. That's why River Island has to work unbelievably hard to satisfy their customers.

    Read More

  • Why Are Stakeholders Important In Healthcare

    133 Words  | 1 Pages

    Some of the important stakeholders include: internal (executive and senior management, such as CFO, CEO, CNIO, CMIO, CIO, departmental directors), interphase (focus groups representing front line clinicians, pharmacists, nurses, other allied healthcare professionals) and external ( e.g. government regulatory bodies, patients, accreditation associations). As a stakeholder is any individual that can affect or be affected by the CIS deployment, it is important to identify and engaging them early on is critical to the latter success. The interphase stakeholders know best the workflows at the point of care and will help identify a system that is compatible with the needs and has functionality that is in line with the processes. The internal stakeholders

    Read More

  • Abigail Quotes In The Crucible

    1122 Words  | 5 Pages

    In real life there are often situations similar to that. How much are people willing to do to

    Read More

  • Case Study Of Target's Stakeholders

    1172 Words  | 5 Pages

    Know Your Business Environment Unit No. 1: The Business Environment Pervez Ghazi Shaikh Date Submitted: 31/10/2016 Carl Loraine Cruz 20154176   Target is the organization that I have chosen for this assignment. Target is a famous discount retailer in United States that was founded by George Dayton. It was formerly called Dayton’s Company in 1910.

    Read More

  • Stakeholder Analysis Body Shop

    941 Words  | 4 Pages

    Introduction This case study explores the acquisition of the Body Shop, which is one of the largest franchise cosmetics companies in the world, by L’Oreal. The main concentration of the case study aims at investigating the impact on business ethics and corporate social responsibility by the concentricity of the Body Shop and L’Oreal and how the general attitude and buying behaviour is distorted in the course of this acquisition. L‘Oreal being the big conglomerate in the cosmetics industry acquired the Body Shop International which is comparably small but having iconic brand of environmental and socially responsible concerns, on 17 March 2006, through a covenant of $1.2 billion. The combination of two brands in a newly formed conglomerate implies a combination of values, principles and associations that might affect a company’s appeal. The verity that L 'Oreal 's acquisition of the Body Shop provides plenty of potential growth opportunities is undeniable; nevertheless the question of how well the acquisition sits in the group of the world 's largest cosmetics company is another matter.

    Read More

  • M1 Unit 1 Business Essay

    1245 Words  | 5 Pages

    In this assignment I am going to discuss the stakeholders of two contrasting business’. Sainsbury’s: One important stakeholder is owners. The owners of Sainsbury’s they have it in their best interest to make the business as successful as possible by setting aims and objectives for themselves and their employees. They want to make the most profit they possibly can whilst keeping their customers and suppliers happy.

    Read More

  • Ritz Carlton Business Analysis

    840 Words  | 4 Pages

    Obtain internal and external stakeholders’ commitment to the strategy and its implications Stakeholders are people who are invested in a company (time, money, employees). Internal stakeholders are directly connected to the company, like employees, owners and investors (Boundless, 2015). Employees: who have to be totally implicate in the company’s strategy, in the Ritz-Carlton this employee’s commitment start before to be selected for a job, the managers are looking for individuals with customer service talent and not skills. Since they are in contact with the guests, they are the image of the company, it highlight the importance of hiring a good team which will be in accordance with the company’s standards. Their goals are to make the budget objectives and to keep their post.

    Read More

  • Two Types Of Stakeholder Analysis Of Mcdonalds

    755 Words  | 4 Pages

    Stakeholder 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.

    Read More

  • Tesco External Factors

    3270 Words  | 14 Pages

    Every stake holders has its own needs and demands from the organization. Every stakeholder which are directly attached to the company requires the information as it required and his role. These are the persons, groups or other company which have legitimate interest in the company and its functions. These persons or the group directly or indirectly communicate with the company. Stake holder analysis is done below to understand the needs and demands of the stakeholders.

    Read More

  • Stakeholder Theory

    997 Words  | 4 Pages

    The History of Business Ethics and Stakeholder Theory in America Ethics play a huge role in the global business field, since considerations have to be made on moral practices, values, and judgments that govern the direction and overall success of the company. Consequently, over the progression of history, managers, entrepreneurs, and stakeholders at the helm of organizations have always had the mandate of making moral resolves on matters of ethics. According to Hunter (2003), such an approach to ethical behavior prompts a substantial growth in the organizational corporation, as well as maximizing business profits, and creating a reputable company image (Cutler, 2004). Notably, the overall performances of organizations that take part in unethical

    Read More

  • Role Of Stakeholders In Aviation

    963 Words  | 4 Pages

    3. Stakeholders: Definition:A person, group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation 's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.

    Read More

  • Stakeholder Analysis Of Uniqlo

    730 Words  | 3 Pages

    Stakeholder define as a person, group or organization that has interest or concern in an organization. Some examples of key stakeholders are shareholders, employee, suppliers, customers and government. Not all stakeholders are equal. A company 's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company 's employees.

    Read More

  • Pet Food Marketing Plan

    2648 Words  | 11 Pages

    Table of Contents 1.0) Executive Summary 3 1.1) Objectives 3 1.2) Mission 3 1.3) Keys to success 3 2.0) Product and Services 4 2.1) Sourcing 5 2.2) Technology 5 3.0) Market Analysis Summary 5 3.1) Market Segmentation 6 3.2) Target Market Segment Strategy 7 3.2.1) Market Trends 7 3.2.2) Market Needs 8 3.2.4) Market growth 8 4.0)

    Read More

More about Evaluating Business Stakeholders

Open Document