In this chapter will the stakeholders and environmental factors explained from Royal Caribbean Cruises Ltd. Also these two will be explained how they affect the company. The stakeholders and environmental factors are part of the PESTEL. 6.1 Stakeholders To find out what the stakeholders of Royal Caribbean Cruises Ltd are, will first be explained the definition of stakeholders. According to Page & Connell (2014, fourth edition) is the definition: “Interest groups, such as businesses, residents and tourists, who are concerned with issues in an area, such as tourism”. For a company such as Royal Caribbean Cruises ltd are several stakeholders. A couple of the important stakeholders are the tourist booking a cruise, providers of finance, supplier, staff and media. The tourists, staff and media will be explained a little bit further in depth in what way they are so important …show more content…
Without tourists there will be no demand to the services and product packages in the cruise industry. This is the reason why Royal Caribbean Cruises ltd need to take in account what the needs of their customer are, so they can react on this. If there is more need for cruises for the whole family, so also for little children. They should react on this in the way of creating areas for the children and facilities. Another example, if the luxury and relaxation cruises are very popular now and there is a change in this. People want more adventure on board. They need to come up with ideas to fulfill the needs of their customers. If they will not do this, it can happen that it will become less popular and that the demand to the cruises will decrease. This can lead to the fact that they lose their
Cruise lines companies compete with other vacation alternatives, such as land-based resort hotels and sightseeing destinations for consumers’ leisure time. Demand for such activities is influenced by political and general economic conditions. Companies within the vacation market are dependent on consumer discretionary spending. The year 2012 was overall a very difficult for the cruise industry. Carnival International is still recovering from the effects of sinking of Costa Concordia off Italy in January 2012. On other hand, Royal Caribbean’s biggest challenge in 2012 was due to one-time impairment charges of nearly $385 million related to Spanish line Pullma...
Stakeholders are individuals and constituencies that contribute, either voluntarily or involuntarily, to its wealth-creating capacity and activities, and who are therefore its potential beneficiaries and/or risk bearers1. There are several different types of stakeholders associated with a corporation, and those stakeholders can have different views and opinions on what corporation's goals should be and how they should be running. I have interviewed three different stakeholders of Staples Inc., an employee, a customer and a stock holder, to find their relationship between them and the firm. Then, I will use this information to suggest how the firm should proceed and continue to have a better and more beneficial relationship with its stakeholders.
Stakeholder is anyone with an interest in a business; stakeholders are individual, groups or businesses. They are affected by the activity of the business. There are two types on stakeholders who are internal and external. Internal stakeholder involves employees, managers/directors and shareholders/owners. External stakeholder involves suppliers, customers, government, trade unions, pressure groups and local and national communities.
Within my organization there are many different stakeholders. It is crucial to first understand what a stakeholder means. A stakeholder is a person who has something to gain or lose through the outcome of planning process. Within healthcare there are three types of stakeholders, those who receive health care, those who give health care, and those who manage the financial aspects of health care. Health care organizations do not face just one or a few stakeholders they hold many. Healthcare executives must learn to manage a portfolio of stakeholder relationships.
In this essay I will be writing about the stakeholders of both The IPO and Waitrose. I will also be evaluating the impact of different types of stakeholders in one of these companies. Stakeholders can be any person or organisation that has an interest in the activities, goods and services of a business.
Hence, the stakeholders which are described as those who are affected by the organisation performance ,actions and duties and those actions includes employees, clients, local community and investors as well. The theory of stakeholders also suggests that it is the responsibility of firm to make sure no rights of stakeholders are dishonoured and make decisions in the interest of stakeholders which is also the purpose of stakeholder theory to make more profit and balancing it while considering its stakeholders (Freeman 2008 pp. 162-165). In the other words organisation must also operates in a more socially accountable approach by carrying out corporate social responsibility as (CSR) activities.
Regarding to organizational stakeholders, there are three main groups of stakeholders: customers, employees and investors. The company attempts to link stakeholders’ needs and expectations to the company’s goals. For customers, the company must treat them fairly and honestly. For employees, the company needs to treat them fairly, make them a part of the company and respect their needs. For investor, managers should comply with the accounting procedure, do not manip...
Stakeholder analysis is important for successful implementation of projects and/or strategic activities within any organisation. It is used to analyse the stakeholders in order to understand them and classify them according to their power, influence and interest. Stakeholders are people who have an interest in a commercial entity including those within the organisation and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy.
By defining “real stakeholders” as those who have a legitimate claim and firm has responsibility towards them and the influence and power are reciprocal (Fassin 2009), the following groups are real stakeholders for whom Coca-Cola HBC is responsible in terms of both management and ethical issues.
In 2013-14 Tauranga had 83 voyage calls, 25 vessels entering with 83 port days in total. They also had 100 unique passengers and 149,000 passenger port days. Tauranga has established itself as a go-to destination for cruise passengers, with its natural beauty and friendly locals it is not hard to see why. Over the years, Tauranga’s cruise tourism has changed from the 2013-14 statistics, the amount of voyage calls this year has gone down but the amount of unique passengers has gone up to 160,100.
Stakeholders are interest of an individual or groups that directly or indirectly affected by the organisation’s activities, policies and objectives (Henry Frechette, 2010). Stakeholders can be divided as internal (managers and employees) and external (shareholders, customers, and suppliers) (BPP F9). Different stakeholders may have common interests or conflict interests with company. Company board members or management must take care about stakeholders’ interest. They can’t make the decision based on their own interest or their relation with others organisation. Conflict of interest will arise when interests of organisation act in concert with managers’ personal interests or interests of another person or organisations, (Anon, no date).
Stakeholders and stockholders are a group of individuals that can affect the company and also are affected by the company. In order to be a successful company needs to maintain their investor’s confidence. Stockholders are also able to develop value for the customer because they invest on ideas that will produce success for the company. Stakeholders are all the individuals that have an interest in the company such as employees, customers, and the surrounding community.
Cruise Tourism is niche tourism and it forms a small part of the global tourism industry, according to Dowling (2006). A cruise refers to travelling by sea to undergo a vacation not for transportation reasons or cargo handling. (Mancini, 2004) A vacation taken up through cruising would allow tourists to relax, enjoy the floating paradise of restaurants, casino, swimming pool, indoor gym and other installations on the cruise ship. The cruise ship in this case, would be the destination of the vacation, as tourist would spend all of their time on board, except instances when the ship reaches port and optional activities can be taken up at the port.
Stakeholders refer to individuals or groups of people that have an interest in a business. Management argues that as long as there is wealth for shareholders, then anything is done in a responsible manner and things should be done to promote the interest of other stakeholders.
Fletcher’s article helps to provide more of an insight on why these Caribbean countries rely on the tourism industry, giving a greater perspective of the workings of capitalism as in order to survive it must continually grow. While it is important to note that looking at one small area in the Caribbean and its impact on the tourism industry, cannot lead me to draw any general conclusions– as not every Caribbean country will react to the tourism industry in the same way - the study discussed on Jamaica’s Ocho Rios still can provide perspective as to how this heavy reliance on the tourism industry can affect the social, cultural, environmental, and economic standing within such countries. Further research must be conducted on all different effects and within tourist sites in order to come to a general conclusion. Many researchers have offered frameworks on how to prevent such negative impacts from occurring, and this can be helpful for the future of this fast-growing industry. As a person who has travelled to the Caribbean quite frequently (as I have family members who reside in Barbados), because I stay with family members and thus can see the island from a local perspective, I have witnessed first hand the small ways in which the tourism industry affects a big Caribbean tourist destination such as Barbados; not just with those deemed as outsiders with the tourism industry, but those working within it.