TASK # 1:
Nestle is one of the leading brand in Pakistan. There are many stakeholders of nestle corporation, the people or group of people to be affected by its regular operations directly or indirectly knowns as stakeholders. Those people or group affected directly is called internal stakeholders and those who are indirectly affected are external stakeholders. Its internal stakeholder involves its employee, managers, and the owners of company or shareholders. And its external stakeholders involve the society, government and regulation, non-governmental organization, its customers, suppliers etc.
1. Stakeholders level of interest:
Employees:
Employees interest in nestle based on following factors; job stability, experience, human relations …show more content…
They have an interest whether direct or indirect, in the financial performance of corporation. They also have different rights and rewards for example voting rights and forms of financial return. Managers may also be the shareholders and reap the profits of more risky strategies or may prefer risk-averse empire-building projects.
Shareholders:
Whether they are bond holders or stock holders their mostly concern with profits or dividend given by the company, and they also have interest in growth and success of the company.
Suppliers:
Suppliers also have an interest in the growth and prosperity of the business. But their major interest is with the credit policy of company (Nestle) or after how many days the company is going to pay them. The suppliers of nestle company is confidential information.
Government:
The local government and legal authorities are the stakeholders of any company. Because they also affected by the regular operations of company. Their interest with the firm is rightfully paying the taxes and to check there is no violation of any local law. …show more content…
That type of interest the every society or community expect where the firm is operating.
The matrix below provides some guidance on the approaches often taken: High level of interest Low level of interest
High level of power Key players Take notice of them Keep them satisfied
Low level of power Communicate regularly with them Can usually be ignored
2. Effectively manage these stakeholders:
Employees:
It is vital that we listen to and engage with our people often and as well as we do with our customers. Our staff should give anonymous feedback through our annual Viewpoint survey. The following tips are recognized as the essence of good management and should help company to develop a stronger relationship with its employees.
1. An effective boss builds an atmosphere of open communication
2. Trust is critical to a good working relationship
3. A supportive environment motivates employees
4. A supportive boss has a genuine interest in workers as individuals
5. A good boss helps each employee reach their potential
Nestle is one of the leading brand in Pakistan. There are many stakeholders of nestle corporation, the people or group of people to be affected by its regular operations directly or indirectly knowns as stakeholders. Those people or group affected directly is called internal stakeholders and those who are indirectly affected are external stakeholders. Its internal stakeholder involves its employee, managers, and the owners of company or shareholders. And its external stakeholders involve the society, government and regulation, non-governmental organization, its customers, suppliers etc.
1. Stakeholders level of interest:
Employees:
Employees interest in nestle based on following factors; job stability, experience, human relations …show more content…
They have an interest whether direct or indirect, in the financial performance of corporation. They also have different rights and rewards for example voting rights and forms of financial return. Managers may also be the shareholders and reap the profits of more risky strategies or may prefer risk-averse empire-building projects.
Shareholders:
Whether they are bond holders or stock holders their mostly concern with profits or dividend given by the company, and they also have interest in growth and success of the company.
Suppliers:
Suppliers also have an interest in the growth and prosperity of the business. But their major interest is with the credit policy of company (Nestle) or after how many days the company is going to pay them. The suppliers of nestle company is confidential information.
Government:
The local government and legal authorities are the stakeholders of any company. Because they also affected by the regular operations of company. Their interest with the firm is rightfully paying the taxes and to check there is no violation of any local law. …show more content…
That type of interest the every society or community expect where the firm is operating.
The matrix below provides some guidance on the approaches often taken: High level of interest Low level of interest
High level of power Key players Take notice of them Keep them satisfied
Low level of power Communicate regularly with them Can usually be ignored
2. Effectively manage these stakeholders:
Employees:
It is vital that we listen to and engage with our people often and as well as we do with our customers. Our staff should give anonymous feedback through our annual Viewpoint survey. The following tips are recognized as the essence of good management and should help company to develop a stronger relationship with its employees.
1. An effective boss builds an atmosphere of open communication
2. Trust is critical to a good working relationship
3. A supportive environment motivates employees
4. A supportive boss has a genuine interest in workers as individuals
5. A good boss helps each employee reach their potential