Explain the Roles of Both Internal and External Stakeholders in the Selected Business and Show How Their Objectives and Expectations Have Changed over Time
Explain the roles of both internal and external stakeholders in the selected business and show how their objectives and expectations have changed over time.
What is a Stakeholder?
A stakeholder is someone who is interested in a company or business, e.g. Tesco; they can either be an internal or external customer to the business. They may also be affected in a situation that happens to the company because they them selves may of given and invested money into the company or may just be interested in it and use it quite often. They can either have direct or indirect control of the business, internal usually being direct while external being indirect control of the business. Key stakeholders are those who draw in resources such as money and supplies to the business; these are the customers, employees, the government, suppliers and the community.
Although stakeholders are people that judge they to be stakeholders e.g. customers who are interested in the business classify themselves as stakeholders, different types of people and relations would have different types of values and considerations. Internal customers may have different considerations than external customers also. For example, a customer who is an external customer is entitled to customer services and good quality goods, while an employee who is and internal customer may have considerations such as their job security and good pay and promotions being available within the company.
Owners and Shareholders Internal
Both owners and shareholders are internal stakeholders to Tesco. As they are important to the company they may be given considerations and values than other people would not be given such as the dividends and profits.
Dividends is a disruption of Tesco’s profits. This is usually decided by the board of directors on how much they should be given or perhaps the law on how much they are entitled to. If an issue were to occur in the company, such as the company failing maybe because the
What is a Stakeholder?
A stakeholder is someone who is interested in a company or business, e.g. Tesco; they can either be an internal or external customer to the business. They may also be affected in a situation that happens to the company because they them selves may of given and invested money into the company or may just be interested in it and use it quite often. They can either have direct or indirect control of the business, internal usually being direct while external being indirect control of the business. Key stakeholders are those who draw in resources such as money and supplies to the business; these are the customers, employees, the government, suppliers and the community.
Although stakeholders are people that judge they to be stakeholders e.g. customers who are interested in the business classify themselves as stakeholders, different types of people and relations would have different types of values and considerations. Internal customers may have different considerations than external customers also. For example, a customer who is an external customer is entitled to customer services and good quality goods, while an employee who is and internal customer may have considerations such as their job security and good pay and promotions being available within the company.
Owners and Shareholders Internal
Both owners and shareholders are internal stakeholders to Tesco. As they are important to the company they may be given considerations and values than other people would not be given such as the dividends and profits.
Dividends is a disruption of Tesco’s profits. This is usually decided by the board of directors on how much they should be given or perhaps the law on how much they are entitled to. If an issue were to occur in the company, such as the company failing maybe because the