Stake holders are a certain group of people that have an interest in a business. Each group have their own interests in the business. Tesco has many stakeholders. They are as follows:
* Local Community
* Pressure Groups
Now I will explain what interests each group has:
Generally a customer wants quality goods at a low cost. They would also want a variety of products to choose from.
All customers want these things and by Tesco providing them Tesco will attract more customers because of people talking about it (Word-Of-Mouth). Tesco like most business' need their customers because they are the business' income as the customers are the people who buy Tesco's products. The customers are a bit like a pressure group because they apply pressure to Tesco to meet their needs. Meeting the customer's needs can be things such as expanding their stores or giving more variety on certain products. Tesco have feedback forms in their stores which allow customers to communicate with Tesco and tell how
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....
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