How Stakeholders Influence The Purpose Of The Business Unit 1 P2
M1: Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations.
In this document, I am going to continue my comparison on the two companies I have chosen. I am going to describe each of the different types of stakeholders and I will write a brief paragraph stating the differences between internal and external stakeholders.
What is a stakeholder?
A stakeholder is someone with an interest in the business. There are two different types of stakeholders, internal and external. Some examples of stakeholders are:
• The Community
• Owner(s) of the …show more content…
This influences Woking College to encourage their students to study harder and revise topics that may have been recently introduced to the course.
How do stakeholders influence Sainsbury’s?
Owners: The owner of Sainsbury’s is only interested in the profits, increasing market share and making the business grow.
Managers: The managers do not own the business, however they have a say in how it runs. This means that the managers can make a lot of the decisions on what the business can do.
Employees: Employees can influence Sainsbury’s, especially when they strike. When this happens, it influences the business to do something about it to improve the
Customers: Customers influence Sainsbury’s because they are the ones buying the products from the business, if they are not happy with the products then the business will have to make changes to satisfy their customers. Also if Sainsbury’s put their prices too high on food compared to other supermarket chains, then customers could easily switch over to another supermarket and they could purchase from …show more content…
Examples of things employees can do to help influence the success of the business is by doing duties and tasks they are set every day. The employees want to earn high wages and for them to keep their jobs. They can influence the success of the business by working hard and satisfying customers.
• Customers/Students (External)
The customers are one of the most important stakeholders of the business, this is because they expect to be provided with good quality products or services set at a reasonable price. Customers influence the success of the business because If the products the business sells are overpriced, customers will not want to buy them and it could effectively put out the business.
• The Community (External)
The community is where the company is located. Some things that the business do effect the community’s environment, example of these are noise pollution, horrible smells and late night deliveries. The community expect to not be disturbed by the business. The can influence the success of the business because if the business annoy the local residents, it could lead to bad complaints against the