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The difference between primary and secondary stakeholders
The Impact of Internal and External Stakeholders on Enterprises
Relationship between the business and stakeholders
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A Stakeholder is anybody, be it an individual, group or business, with a vested interest in an organisation. On organisation can determine its stakeholders by considering who and what is affected by any of their business activity. Understanding who you work with and for helps to build strong relationships and ultimately, will help in achieving organisational objectives. Reputation is very important and can be very hard to achieve, but easily lost; people are more willing to listen to organisations with a strong reputation where trust and communication is effective. It’s important for organisations to understand who their stakeholders are and what their needs are as they are one of the main factors that will determine and effect whether the …show more content…
For some, the organisation’s finances will be the most important. For others, innovation and leadership will take greater priority. And for others still, an ethical approach to business will top the list. These needs and expectations will depend entirely on the perspective of the stakeholder groups involved and the needs of internal stakeholders differ to those of external stakeholders. Primary stakeholders are those who have a direct interest in an organisation and secondary stakeholders are those who have an indirect interest. Internal stakeholders are within the organisation such as employees, departments, Chief Executive and external are groups, businesses or people who are not directly working within the organisation but are still affected by decisions made by the …show more content…
Benefiting the Communities we serve There are numerous stakeholders involved in all aspects of services that are delivered and CPG is also keen to engage new working arrangements which will result in better care. The aim is to introduce 5 new working arrangements resulting in better care, continue with 8 positive press stories per quarter, 5 nominations for national awards per year and representation at 1 international event per year, which will be monitored by the designated lead. Skilled People, Proud to belong to Care Plus Group It is recognised that staff are CPGs greatest asset and therefore understand how important that they are fully appreciated and that their views are heard and taken on board. The goal is for the following to be achieved via the Staff Survey and the Volunteer Focus Groups: • Staff survey – do you feel that there is fair and effective leadership in place across CPG? 90% by 31st March
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.
In this assignment I will discuss about key stakeholders who influence the purposes of two business, the business I have chosen are Tesco and Oxfam. Also, I will be talking about interest owners, customers, suppliers, employees, trade unions and employer associations have in the business. Another point I will be talking about is why business must consider local communities and pressure groups when operating their business.
An aspirational goal for any department is for all members to hold and support the same values at all times. However, that is almost impossible due to the diversity of its members. Members have different backgrounds, different experiences,
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.
Perspectives of workers or staff members- Workers who are providing the services to the service seekers or we can say the health service practitioners as well as professionals have the responsibility and liability to maintain the quality of the Royal United Hospital Bath NHS Trust. This can be done only when the staff of the home care is motivated enough to perform the practices efficiently. For this the monetary and non- monetary reward can provided to the employees of the home
In general, staff moves up the organization based on experience, seniority, education level and relevancy of skills. Employees are expected to support one another and follow the “Respectful Workplace Policies”. As for interaction with patients, since the new Chief Executive Officer was appointed, the organization has focused heavily on being patient-centred. Patients’ feedback is valued. They are encouraged to participate in the Patient Voices Network to share their experience and give feedback to site
However there is still a massive gap in multi-agency work for improvement which needs to be looked within a few areas. As we can still see that each agency involved are not receiving the correct training to be able to work well and integrate with other professionals to create an overall better service and care. We don’t know how the training is received and the true outcomes of it and how it will cooperate with other professionals.
...igning practitioner training programmes that include direct service user input. Current practices within services were discussed and highlighted a power imbalance between the service user and practitioner where the practitioner often holds all of the power and the views of the service user are often not considered. Possible resistance to a working partnership was discussed followed by suggestions to address these barriers to change. This highlighted that there are already policies in place that encourage a working partnership but Tait and Lester (2005) suggest there is no real evidence that these policies are being used regularly in practice. This essay has shown that a working partnership where the service user is involved in every aspect of their care is possible but policies and strategies need to be implemented and attitudes need to change for it to be achieved.
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.
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.
Stakeholders are those groups or individual in society that have a direct interest in the performance and activities of business. The main stakeholders are employees, shareholders, customers, suppliers, financiers and the local community. Stakeholders may not hold any formal authority over the organization, but theorists such as Professor Charles Handy believe that a firm’s best long-term interests are served by paying close attention to the needs of each of these stakeholders. The modern view is that a firm has responsibilities to all its stakeholders i.e. everyone with a legitimate interest in the company. These include shareholders, competitors, government, employees, directors, distributors, customers, sub-contractors, pressure groups and local community. Although a company’s directors owes a legal duty to the shareholders, they also have moral responsibilities to other stakeholder group’s objectives in their entirely. As a firm can’t meet all stakeholders’ objectives in their entirety, they have to compromise. A company should try to serve the needs of these groups or individuals, but whilst some needs are common, other needs conflict. By the development of this second runway, the public and stakeholders are affected in one or other way and it can be positive and negative.
Stakeholders’ analysis is the analysis which tells that how the company is dealing with the people which are directly or indirectly related with the company’s operations. These are called stakeholder and they include the employee, society, suppliers, buyers, shareholders, got and other tax related companies.
Is the government an external force, an internal force, a stakeholder, or all of the above? Using examples from your activities, comment on the government’s role in business and society. (5 marks)
When using performance management to improve an organisation’s productivity you need to first decide who is the focus of the organisation’s long term goals, are they focusing on Shareholders or Stakeholders. The Shareholder approach focuses on the profit to the shareholders, no other factors need to be considered aside from the bottom line profits. The Stakeholder approach is a well-rounded, balanced approach to management, considering more than just how much money the organisation makes.
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.