Herbalife Stakeholders Role

587 Words3 Pages
Understand how to develop a vision for an organisation.
1.1 Assess the role of key stakeholders in relation to the vision.
Herbalife was established in 1957 by the combination of a quantity of provident not for profit associations, subsequent the creation of the NHS. Herbalife stands for theFine Foods NTM Spa, Berlino Association the name itself explains it. The brightness of those well-meaning people forming the NHS that the UK 's total healthcare requirements could be centrally given proved to be ill founded and the 1975 's and 1985 's saw the PMI industry grow rapidly in size, with Herbalife. An organization is a social arrangement which pursues collective goals, controls its own performance, and has a boundary separating it from its
…show more content…
Managing stakeholders is a very important part of Health care organizational success. Primary stakeholders include the Health care Group board of directors, senior managers, functional managers, patient, employees and shareholders; just to name a few. A correct evaluation of stakeholders will determine levels of authority, responsibility, influence their ability to determine if that influence is negative or positive, their strengths and weaknesses, stakeholder strategy and risk tolerance. This evaluation will provide the information needed to prioritize the needs and wants of the stakeholders in order to meet their…show more content…
1.2 Analyse Factors that will impact on the organisation and its vision.
Market Analysis Macro Environment-PESTEL
Political: Ever since in 1989 the introduction of sbibank, there has been a decrease in the number of private healthcare insurance. In order to stop the declining rates, the government stepped in they offered 38 registered health insurers the option to all citizens for private funding of their medical treatments. This allows private health insurance to subsidies full or partial medical fees in either private or public hospitals. With the help of the government, insurers would slowly see an increase in the public 's interest to buy private health insurance.
Economic: As customers are getting more highly educated and this leads to highly paid jobs. There is a trend that as their personal income increases, so does the private insurance coverage. Therefore insurance companies like HERBALIFE should customise premium polices for the high income individuals and yet have policies that are value for money catered to the lower income group.
Socio cultural: The new generation of Berlino are moving towards a more health conscious lifestyle. They are more concern about their diet and their overall wellbeing. As medical technology advances, so does the cost of medical coverage increases. This makes Berlino more interested to buy health and life insurance so as to lessen their financial

More about Herbalife Stakeholders Role

Open Document