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Role Of The Stakeholder In The Better Business Bureau

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The consumer is the more important stakeholder of the Better Business Bureau, because the consumers participates in the market share and is usually the one that is at high risk of identity theft. The consumer is also at risk for not legitimate in business. A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organizations that are affected by the activity of the business. The stakeholder is very important because they show owners who are interested in how much profit the business makes. Workers and consumers also play a great role in the Better Business Bureau, but most of all the consumers are very important because they have the most to lose in a business. They are the ones that can lose the
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The Better Business Bureau has done many things to over the years to restores it trust and honor. The BBB code of Business Practices represents sound advertising, selling and practicing on great customer services that have enhanced the customer trust and confidence in the business. The Better Business Bureau code is built on the standards of trust and confidence in the business. The Code also has represents the standards for business accreditation by BBB.

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Every stake holders has its own needs and demands from the organization. Every stakeholder which are directly attached to the company requires the information as it required and his role. These are the persons, groups or other company which have legitimate interest in the company and its functions. These persons or the group directly or indirectly communicate with the company. Stake holder analysis is done below to understand the needs and demands of the stakeholders.

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Stakeholder analysis Stakeholder are entity that will affect the organization actions, objectives and policies. There are two types of stakeholder which is internal stakeholder and external stakeholder. The McDonald’s stakeholders are customers, suppliers, employees, managers, government, local communities and pressure groups. Customers Customers are the external stakeholders of the company, no customer mean zero profit.

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Stakeholder define as a person, group or organization that has interest or concern in an organization. Some examples of key stakeholders are shareholders, employee, suppliers, customers and government. Not all stakeholders are equal. A company 's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company 's employees.

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Freeman’s (1984) work intention to re-conceptualize the nature of the firm to inspire the consideration of new external stakeholders, beyond the traditional pool legitimizing in turn new forms of managerial understanding and action. The motive of stakeholder management was to try and establish a framework that concerning to the managers who were being struggled by unprecedented levels of environmental change and instability (Freeman & McVea, A stakeholder approach to strategic management, 2001). Stakeholder theory challenges the stockholder theory by arguing that there are more “stakeholders” with an interest in a corporation than just the stockholders and these other “stakeholders” need to be taken account of and given a say in the running of the corporation. Those other stakeholders consist of customers, suppliers, employees, competitors, communities, local and national government, political groups, trade unions and the environment (Ekornes Mertens,

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3. Stakeholders: Definition:A person, group or organisation that has interest or concern in an organisation. Stakeholders can affect or be affected by the organisation 's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.

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Stakeholder theory gained momentum and increased in significance during the mid-1980s. According to Freeman (as cited by Appiah, 2016) stakeholder theory contributed to reconceptualizing the fundamental manner through which firms operated, and leaders behaved, with the focus shifting toward external stakeholders. Foster & Jonker stated that the introduction of the stakeholder theory helped change the way in which organizations operated when the emphasis had historically been on internal stakeholders, in which the stakeholder theory altered this operation and implied relevance to external groups and communities (as cited by Appiah, 2016) Simmons said that with the advent of the stakeholder theory, organizations were compelled to assume greater

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Here you look on the difference between benefits and harms for the society and if the benefits are greater than the decision or an action is considered as ethical, if lower – unethical. Here it is important to identify the stakeholders and an effects on them from actions or decisions of a company. “You can think of a stakeholder as a person or organization that can affect or be affected by your organization. Stakeholders can come from inside or outside of the organization. Examples of stakeholders of a business include customers, employees, stockholders, suppliers, non-profit community organizations, government, and the local community among many others.”

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