Influence of stakeholders on business objectives. Tesco and Oxfam Stakeholders 2019-01-05

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Stakeholder Influence

influence of stakeholders on business objectives

In this assignment I will be evaluating the influence different stakeholders have in one organisation. They voluntarily help to run and operate the business, this is very helpful to Oxfam because it means they can save money, and invest in other areas of the business. Increase Market Share — The percentage of a total market that a product, or company holds. Ownership Structure: The ownership structure of this small boutique hotel will be sole proprietorship. An aim is where the business wants to go in the future, its goals.

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How Do Stakeholders Influence Business Activities?

influence of stakeholders on business objectives

Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations. If for example this was to change, and the volunteers and employees no longer agreed with mission statements, they would be less likely to volunteer meaning Oxfam would have less money to fund their cause, because they would have to employ more staff. Tesco is trying to gain as high profits as they can, because company investors or shareholders might thing about investing more money in to the business because of its success and development. The Suppliers can also change credit terms which may have cash flow issues for a company. A Little Help From my Friends The next part of the engagement plan will help you focus on why you need to engage other people, and why they might want to be involved. Having objectives in a business is very important because it brings goals that the business needs to reach and also allows the company to be united.

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The Influence of Stakeholders on a Business Essay Example

influence of stakeholders on business objectives

As you can see Tesco and Oxfam stakeholders have pretty much the same influence on business. Objectives are far more sensible and achievable. Employment, Management, Ownership 399 Words 2 Pages How and why does anarchy influence the behaviour of states? Mark and Spencer have their suppliers which they provide the raw materials needed by the business to use from. Also Oxfam meet with partnerships to create as cheap as possible operational cost, so that they could donate more money for people in need. The stakeholder action led to the and according to the 90% of the world's tuna canners are now dolphin-safe. The customers told Apple about these problems which heavily pressured Apple into getting the problems refused. Customers — Customer Question Time meetings are invaluable.

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Chapter 5

influence of stakeholders on business objectives

They have a huge amount of interest in the company this is because they are held responsible if anything goes wrong with the business. Shareholders are the people who invest in an organisation and it is their money which is at risk if the business was to lose money. Increasingly, firms are giving free after sales service, replacing unwanted goods without question and training their staff to deal with the public Government legislation and arguably trade unions have influenced how businesses treat their employees. This essay will look in to the different stakeholder theories and how these theories help on encouraging responsible business practices in an organization or company. Other conditions could be around quality, licensing, process or technology, for example a food retailer stipulating that their use certain growing methods. Stakeholder Theory Organizational management is largely influenced by the opinions and perspectives of internal and external stakeholders.

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Business Objectives And Stakeholders T1

influence of stakeholders on business objectives

However, for the ideas to gain traction within the organization, buyers must turn their attention to unexpected places and look to manage their colleagues within the business. Company management will continue to support local charities if those nonprofits promote the business and refer business. Employer associations — Organisation of employers generally from the same industry working together for the interests of all member companies on tasks like trade union negotiation, sharing information and advice, and approaching other companies. Oxfam is doing this because it might help for business to reach its aims and objections, gain higher profits that would help to fight poverty. In this task I am going to consider the most common objectives and aims, in doing so, I will compare its objectives and aims to other businesses.


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How Does Stakeholder Influence The Aims And Objective Free Essays

influence of stakeholders on business objectives

In some human services programs, one of the most prominent stakeholders is the funding institution. B Unit-1 Sub point-B Note: Here i place the reading material of the topic taught by Kindly go through this for the external exmanitation. Local community A business can be a great benefit to a community, providing tax money, local access to unique goods and services, jobs, and community development programs. The input component of the consumer. Customers: The customers are external stakeholders and they want the most they can get out of the business in this case - school they have chosen to go to. The board of directors are appointed by the shareholders and are supposed to be in control of the business.


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Business Stakeholders

influence of stakeholders on business objectives

In order to achieve your aim you have to motivate yourself. Because the trustees run the company it is important for them to maintain interest in the company. Tesco wants to make its investors satisfied because it may affect business future. By having aims and objectives businesses can set themselves up and know personally what they want to achieve from their business and identify. They like to see improvements that give them better value for money. Organisational behaviour is the study of the structure and management of organisations, their environments, and the actions and interactions of their individual members and groups. For this reason I believe neither set of workers from either of my selected organisations would feel negatively towards the pairing of these two companies as this will not affect their employment.

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Chapter 5

influence of stakeholders on business objectives

Employees have significant financial and time investments in the organization, and play a defining role in the strategy, tactics, and operations the organization carries out. Both businesses pay attention at their customers. The food that is sold at fast food chains has huge impacts on global health. Furthermore, if their children were attending Cheam High School, they would want make sure their children are receiving the best possible education and would influence the school to invest in improved facilities. This was after shareholders of Apple threatened to not renew their investment. The board of directors are also ensuring the availability of adequate financial resources. Nowadays, big data plays a significant role in determining what users want.

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Business Objectives And Stakeholders T1

influence of stakeholders on business objectives

From these you can develop engagement aims, for example, to inform stakeholders of x, or gather feedback from stakeholders about y. The further away from the bullseye, the further they are from alignment to your thinking. It is a discipline that has developed into a recognised and vital part of managing successful projects; from building highways to delivering successful change in large corporations. Owners often make substantial decisions regarding both internal and external stakeholders. Lewis and Trevitt 2007: 18 A lot of different stakeholder groups have connection with the business to some degrees.

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