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Aldi Stakeholders

817 Words4 Pages

1.0 Introduction This report discusses about Aldi Limited, a company that originated in Germany in the year 1913 and now has over 9300 stores worldwide and stands out as one of the first retail companies that offers self service (Glatzel, 2015). BusinessCaseStudies (no date, p.1) and Ruddick (2013) explains that Aldi sells products at very low prices and mainly focuses on selling their own branded products however research suggests that the reason for the rapid growth and success of Aldi is the attention paid towards keeping their stakeholders satisfied. This report aims to discuss who a stakeholder and the role they play in a business, the various types of stakeholders and their influence on Aldi, and how Aldi maintains and manages their …show more content…

Each stakeholder has a different interest in the organization therefore they each respond according to their stake in the business (Daft, 2000, p.144). Bragg (2010) and Frémond (2000) state that the operational and financial decisions of a business can be severely influenced by the stakeholders and their aim is to unveil methods to assure a sustainable and prosperous company. Freeman et al. (2004) explains that in order to achieve the intended objective of the organization, the business should be aware of the relationship that should be maintained with the …show more content…

26) the business procedures of an organization are run by the employees, therefore by having a highly trained workforce and motivating the employees, they will contribute towards accomplishing the goals of the business. Customers are crucial for the survival of an organization because they bring in revenue to a business therefore the products offered to customers should be of good quality and value so that the customer is satisfied, if not the firm can go out of business (Madura, 2007, p.27). WordPress (2011) explains that if the customer is satisfied with the products they will praise and recommend it to the community whereas if they are not they can criticize the product which can harm the business drastically. Community Tool Box (2015) enlightens that by being fully open, respecting, supporting, appreciating and involving the stakeholders in the decisions of the business the support of the stakeholders will be earned and a good bond can be maintained with

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