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Internal and external stakeholders
Influence of stakeholders on business
Internal and external stakeholders
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The purpose of this report is to describe different stakeholders which influence on Apple and RSPCA. Furthermore, I will describe how each stakeholder influences on the aims & objectives of these businesses. To conclude, I will also evaluate the influences of different stakeholders in one organisation. 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.
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.
People organization or groups that have a direct or indirect interest in a one particular organization or surrounding are called stakeholders.
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.
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.
Apple’s maintenance of its image in the global marketplace comes with a price on how ethnically Apple conducts business practices while promoting environmentally safe products for the consumer. Apples’ Code of Conduct, voluntarily executed, exemplifies to the global market, investors, regulators, that Apple’s standards and codes of environmental conduct are universal. To maintain Apples’ universal symbolism, systematic inspections into Apples’ supply chain, conducted regularly, are to expose violations of its work ethics not surpassing apples’ comprehensive standards established for its suppliers.
It is important to include and identify stakeholders in the policy development process. By doing so, the stakeholder ca...
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
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.
The tremendous success that Apple has been for the efforts that they have made not only in ensuring that they produce quality products, but also in ensuring that they are socially responsible in their business model (Avetisyan and Ferrary 2013, 115-133). Apple is believed to be one of the companies that are socially responsible in the world, but has received criticism from all corners in the world (Aguinis and Glavas 2012, 932-968). The criticism has worked to the advantage of Apple since it has been able to improve in their social responsibility. The paper discusses the environmental and social performance regarding Apple and how it impacts the society and how the operations of the company should be done (Backer 2013, 805-879). Both the areas
Stakeholders are individuals, groups, and organisations with the power to influence the delivery of an organisation’s strategy and thus the organisation’s performance and/or a significant interest in an organisation’s strategy and thus the organisation’s performance (Wisniewski, 2001; Ackermann & Eden, 2011). In the context of the draft BSC to be developed, however, the analysis shall focus on relatively aggregated stakeholder groups. Firstly, the aim of this stakeholder analysis is not to pinpoint individual persons as stakeholders who may then be managed more easily than large organisations, but to identify rather broad stakeholder groups interested in Zara’s performance. Secondly, addressing
Stakeholder is any groups or individuals that are affected by the attainments of the organisation’s goals. [] In this situation Coca-Cola situation we can determine following group of stakeholders. They include local communities, employees, customers, suppliers, competitors, countries, law, and government regulatory parties.
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 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.