How Stakeholders Influence The Purpose Of The Business Unit 1 P2

Better Essays
P2: Describe the different stakeholders who influence the purpose of two contrasting businesses.

M1: Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations.

Introduction
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
• Employees/Workers
• 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

Related Documents

  • Decent Essays

    Whether the business owners decide to give fringe benefits or not also are a concern to the employees, because that might be motivating. Employees have such a profound impact on how successful the business is by their level of productivity and motivation in their everyday duties, responsibilities and tasks. They can resort to trade unions and other various industrial move if they don’t think there working environment is safe enough. Or if they don’t think they are getting paid enough and if they don’t like Sainsbury policy. Customers Customers are concerned about the business, because they buy from that business consequently they imagine the product/service they are paying for comes in good quality.…

    • 935 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Friedman and Social Responsibility of Business Introduction Milton Friedman believed and argued that business people take care of the responsibilities that affect them in their day to day life. However, they don't care the impact their businesses have on the society so long as their market is growing and increasing their profits. The main reason why he argued this is because believing in a reduced impact that the government has and a free-market. He found that government solutions to problems are no better because its solutions are even worse than the problem itself. As a result of his belief, he believed that the government should keep off the businesses activities because of its greed and the quest of people to have access to power.…

    • 1164 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    Business Case Analysis

    • 1056 Words
    • 4 Pages

    The business case, plan and project plan sounds similar to some and interchangeably used wherever possible. The research paper clarifies the definitions of the business case, plan and project plan and describe how these are helpful in project design and analysis. The research paper also discusses how these three key functions work with each other, depend on each other and what are the differences between them. To give an idea to a reader about the business case, there will be two business case scenarios are considered in a particular business. To better understand the business cases, the background information of the business has been provided.…

    • 1056 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    One important factor that relates with this rule is that do thing you’re good at. When you ask any owner of a business the question of what’s more important in any operating business their answer more than likely will be customers, but what about employees. Without employees you don’t have anyone to operate your business. “If bosses started to treat their employees fairly, inspire them, and let them try outrageous thing without fear of being fired or humiliated in front of peers, employees will work harder, smarter, and care for their customers. Customers will love the company, buy more, and spread the business by word of mouth.…

    • 1228 Words
    • 5 Pages
    Decent Essays
  • Decent Essays

    You can choose the direction, you choose your hours, and you are in charge of the culture of your company and the company vision. On the other hand, you need constantly search for clients and new opportunities so besides being a professional you also need to be good in marketing to be able to make a profit. But owning a business isn't for everybody. For every successful company, there are other ten that failed. There is a lot of stress.…

    • 755 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Unethical Legal Issues

    • 786 Words
    • 4 Pages

    Another effect is how such act makes the company looks towards to public. Depending on the severity of the action it could hurt the goods and services the company provides to the public. If you lose all credibility with your customers then you have no one to sell to. After credit is lost…

    • 786 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    Walmarts Ethical Issues

    • 1973 Words
    • 8 Pages

    Wal-Mart has several ethical issues and a way they can make a difference is by training their managers in away showing that profit isn’t always the most important thing. Granted that profit is very important and keeps a company running. But if you can’t keep employees happy or if you can’t treat them right you won’t have any workers to make you a profit. I feel if the managers where trained better on caring for their employees Wal-Mart would not find so many lawsuits and such a horrible turnover rate with employees. Also if Wal-Mart would spend a little more money on cost of their goods like clothing they wouldn’t need to worry about third party sweat shops or causing shops in Bangladesh being open.…

    • 1973 Words
    • 8 Pages
    Decent Essays
  • Decent Essays

    Managers use motivation to inspire their employees to work, in hopes of generating the best outcomes in efficient and effective ways that are beneficial to both the organization and the employees. With walmart being the #1 U.S. retailer, the downside is that they have a high turnover rate of 44% due to some of the criticisms of the employee culture. In order to keep their spot at #1, they must keep their employees happy and make them learn to love their jobs. Although there are many criticisms of Walmart’s employee culture, they are making changes by using motivation…

    • 1081 Words
    • 4 Pages
    Decent Essays
  • Decent Essays

    The company is to orient towards chargeability. Meaning that they focus too much on the percentage of staff available to bill to projects. This discourages the younger employees because they feel like they have to dedicate every aspect of their life towards the company. Senior partners are willing to this and thus generate the most profit for the company. In order to convince young professionals to be more committed towards the company they need to feel involved more.…

    • 1448 Words
    • 6 Pages
    Decent Essays
  • Decent Essays

    In the article Here’s Why Companies Are Desperate To Hire Anthropologists by Drake Baer he states, “While most execs are masters of analyzing spreadsheets, creating processes, and pitching products, anthropologists — and other practitioners of applied social science — can arrive at customer insights that big data tends to gloss over, especially around the role that products play in people 's lives.” As you can see Retail Anthropology is much more than trying to manipulate the consumer, it is also about getting to know them. Big name companies want to learn more about who they are selling to so that they can create products for them. Furthermore, studying people improves sales and creates jobs, which coincidentally affects many people’s…

    • 1021 Words
    • 4 Pages
    Decent Essays