Intro to Business
Who will be the various stakeholders of your business? My various stakeholder will be stockholders, suppliers, customers, community, media.
What are some of the things you can do to benefit your community other than providing jobs and tax revenue? I can donate to various charities, volunteer in community activities, and even get my suppliers locally with the communtiy. Providing excellent goods and services.
How will you establish good relationships with your suppliers? With you employees? I would establish good relationship by minimizing errors and making payment on time. Refer business to their company and promotional deals meals for their employees. For the employees I must provide a safe and fun working enviroment for them. Offer good benefits and offer competitve wages. Offer bonuses each month for excellent workers to keep them motivated and just show them that your company is the company they want to work for.
Do you see any conflict between your desire to be as profitable as possible and your desire to pey employees a living wage? I do not see any conflicts as long as I can maintain a excellent work ethics and meet the demand of goods and services and most importantly adapt to changes like techonology, supplies, and services.
Which of the enviroment factors outlined in this chapter that might have the biggest impact on your business? How? The Competitvie factor I think would be one because in order to maintain a business we must provide excellent goods and services and meet the demands. Keeping a good relationship with the stakeholders and employees. The other is the technological enviroment to be able to run the business more effiencecy by networking, advertising, and even finding better and cheaper suppliers.
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