Importance Of External Stakeholders
B) Identify three important external stakeholder groups, identifying why they are important. What mechanisms exist to meet their objectives and how effective are they?
A Stakeholders is a person, a group or an organisation that is interested or concerned in Coca-Cola. Coca-Cola 's three important external stakeholder groups are: their customers; their shareholders and the government.
Customers:
It is the customers that will help with growth in sales and profit. Therefore, Coca-Cola has massively contributed in its research and development area in order to attain high quality beverages and meet the demand of customers. Research has revealed that customers tastes are changing. Customers are becoming more health conscious, people have fallen out of love with high-sugar, high calorie fizzy drinks, and are seeking out healthier alterantives instead. Coca-Cola has fixed this by introducing diet drinks that acquire the same taste of their regular drinks while still being low fat or low calorie drinks, such as diet coke, or coke zero. However, customers are still growing very concerned about the potential negative effects on the artificial sweeteners those drinks use.
Shareholders:
Without shareholders, Coca-Cola cannot continiously invest in being better than their competitor. The shareholders interest is the maximisation of wealth and company growth.Therefore, Coca-Cola has developed strategies in order to meet shareholder 's objectives by keeping profits high and have
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