Business Studies Level 3 Unit 1 P2

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Describe the different stakeholders who influence the purpose of two contrasting business.

Stake Holders for Marks & Spencer’s and Pool Hayes Community School:

1. Customers
2. Management
3. Suppliers
4. Employees
5. Owners/Share holders
6. Trade Unions\Employer Associations
7. Local & National Communities
8. Environment
9. Government

Customers are the most important stakeholders in Marks & Spencer’s as they are the people that by there products off of them. They have the potential to make the business or break the business. The customer that buy form Marks & Spence will want to see regular change so that they keep buying there different products, this in turn ill stop them from going in competitors stores and spend their money in those. Marks & Spencer should also evaluate there offers and promotions that they will offer as because the customers will want to see different offers and not the same ones every time that walk in to your store.

The management of Marks & Spencer’s is one of key stakeholders out of all of them as they will be making sure that all of the below stakeholders are in order and working well. They have a direct impact on what goes on in the business, so it important that the management work well as a team because if they don’t the business will get worse and fail. Also if the management are not doing a very good job it could lead to a mutiny among the general employees where they will over throw the management and start running the business for them self’s.

The suppliers that provide all of Marks & Spencer’s clothing and food will want to keep a long-term relationship with them so that they keep buying of them. It is also very important that the suppliers are on time with there deliveries as if they are irregular Marks & Spencer might cut there contract with them. Both of the above are very important to the business as they are bringing the products in to...
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