Stakeholders can be briefly defined as any party who are interested in an organization. This might be a member of an organization, volunteer, staff, management, board member, founder or a contracting body, client, community of interests such as locality or grouping of people who might benefit. Every business organization has a range of stakeholders. An organization is established based on blending the various interests of these stakeholder groupings. An objective to be the market leader of an organization will benefit all stakeholders because customers will receive high quality products, shareholders will receive high dividends, and employees will receive high wages. The reader of this report can get a better idea regarding the stakeholders of Nestle Private Limited by viewing the following diagram (Figure 2.0) which explains about the stakeholders of Nestle Company.
Figure Number 2.0 (Stakeholders of Nestle Company)
Furthermore there are two types of stakeholders in an organization, * Internal stakeholders
* External stakeholders
3.1 Internal stakeholders of Nestle
Includes the parties who are interested in the business organization within the same particular business organization are called as internal stakeholders. These can be managers, employees and directors and so on. According to the above diagram 2.0 the internal stakeholders of the Nestle Corporation are managers, Board of directors, Unions etc. 3.2 External stakeholders of Nestle
External stakeholders are the people or the party who are interested in a particular organization externally. For example we can take the above diagram into account, distributors, suppliers, Shareholders, Regulatory bodies, Government, Competitors and the business partners of Nestle Private Limited.
3.3 The Significance or the Importance of the Stakeholder analysis * Identify the organizational position in the market
This refers to the market the organizational position in the market. This will...