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P2 – Describe the different stakeholders seeking to influence the purpose of two contrasting businesses.
Stakeholders - a group of people or organisation that has interest or concern in an organisation.
For most of the businesses it is vital to have stakeholder groups because it may affect business efficiency, may increase sales, or even it may help for the business to reach its aims and objectives more effectively.
Although, there are loads of stakeholders in a business, but not all of them have equal voice.
For example, customers of the business are entitled to fair trading practices but they are not entitled to the same consideration as the company employees. Stakeholders can affect or be affected by the organisations actions, objectives and policies.
The key stakeholders in a business include the following:
Customers – Individuals who receives or consumes products (goods or services) and have the ability to choose between different products. They want a business to produce the high quality production which would have better value. Also customers would like to see improvements in brands, productions and services produced by the business.
Employees – Individuals, who work part-time or full-time under a contract of employment, whether oral or written, express or implied, and have recognised rights and duties. The company provides them with a livelihood; employees are seeking for security of employment, promotion opportunities in work and good rates of rewards.
Suppliers – Individuals who supply goods or services for the business. They want steady and prompt payment form the businesses, also they want to be valued by the company they serve.
Owners – Individuals who possess the exclusive right to hold, use, and benefit-from the business. They are the most important individuals in the business. Usually the owners would be shareholders who invested loads of money and their own time in a business and because of this they would love to see their
Stakeholders - a group of people or organisation that has interest or concern in an organisation.
For most of the businesses it is vital to have stakeholder groups because it may affect business efficiency, may increase sales, or even it may help for the business to reach its aims and objectives more effectively.
Although, there are loads of stakeholders in a business, but not all of them have equal voice.
For example, customers of the business are entitled to fair trading practices but they are not entitled to the same consideration as the company employees. Stakeholders can affect or be affected by the organisations actions, objectives and policies.
The key stakeholders in a business include the following:
Customers – Individuals who receives or consumes products (goods or services) and have the ability to choose between different products. They want a business to produce the high quality production which would have better value. Also customers would like to see improvements in brands, productions and services produced by the business.
Employees – Individuals, who work part-time or full-time under a contract of employment, whether oral or written, express or implied, and have recognised rights and duties. The company provides them with a livelihood; employees are seeking for security of employment, promotion opportunities in work and good rates of rewards.
Suppliers – Individuals who supply goods or services for the business. They want steady and prompt payment form the businesses, also they want to be valued by the company they serve.
Owners – Individuals who possess the exclusive right to hold, use, and benefit-from the business. They are the most important individuals in the business. Usually the owners would be shareholders who invested loads of money and their own time in a business and because of this they would love to see their