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Stakeholders Interests To Have An Interest In A Business

1122 Words5 Pages

All this stakeholders have an interest in a business but these interests are very varied from one to another, and they all have main interest of; the CEO want to see the business grow, and to make a large profit and to be rewarded for the risks they have to take, such as if they make a decision to take a risk to try improve and makes the company grow and succeed they should be well rewarded for the risk they took. The CEO have a completely different view than the customers, who want to buy products or services, and to pay a fair price for these. They also want to receive good customer service for the products or services they buy. So in this we already have a clash, which the CEO would want to make a good profit on the products they sell, but the Customers want to get a fair price. …show more content…

Employees also want a secure employment; these interests are massive due to if the company has no employees they have no-one to serve the customers, so the CEOs have to make sure they have workers prompt and ready to sell their product or services. The employees also have to give it their all, the CEO will have to make sure that the customers are getting the customers high service levels and if they do that, they have more chance to gain promotion and be rewarded for doing positive things for the company. Suppliers in Tesco are very important, if they do not deliver with the products to Tesco; they will not be able sell anything due to the lack of stock, this can mean that store may have to close for the day due to the Suppliers not being able to deliver the goods. In return, the Suppliers would expect to be paid

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Richard Graeter's Stakeholders

259 Words | 2 Pages

A Stakeholder is any individual who has a vested interest in a business and is affected by the organisations decisions and strategies (Pride, Hughes & Kapoor 2015, p. 10). Therefore, the people most affected by Graeter’s decisions to take a long term view of the business rather than aim for short term profits are the family members who have a stake in the business. At the present, Richard Graeter II (CEO), Robert Graeter (vice president of operations) and Chip Graeter (vice president of retail operations) manage the business and are responsible for all the decisions regarding its operations. Graeter’s management team have chosen to forgo the opportunity for short term profits by adhering to the traditional manufacturing process used by Louis

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Why Is It Important To Btec Business Level 3 Unit 1 D1

2682 Words | 11 Pages

Furthermore, I believe the most influential stakeholders will be customers and employees to the business whereas the least influential will be trade union and local and national communities as these stakeholders might be the least influence but they’ll still have importance

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Why Are Stakeholders Important In Healthcare

133 Words | 1 Pages

Some of the important stakeholders include: internal (executive and senior management, such as CFO, CEO, CNIO, CMIO, CIO, departmental directors), interphase (focus groups representing front line clinicians, pharmacists, nurses, other allied healthcare professionals) and external ( e.g. government regulatory bodies, patients, accreditation associations). As a stakeholder is any individual that can affect or be affected by the CIS deployment, it is important to identify and engaging them early on is critical to the latter success. The interphase stakeholders know best the workflows at the point of care and will help identify a system that is compatible with the needs and has functionality that is in line with the processes. The internal stakeholders

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This paper is going to include an unbiased analysis on how to deal with some of these issues, and the positions and interest of some of the stakeholders. It will also include, a recommendation on how to plan a negotiation with all of the

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Target's Stakeholders Relationship

1730 Words | 7 Pages

During implementation of a strategy the stakeholders are normally important by developing mechanisms and incentives to ensure continued commitment. The customer might not get the value for the goods or the prices they would expect. The employees will be required to be flexible in order to provide services and also training and gain the required experience. The suppliers maybe required to make prompt transitions of the services they provided previously with what has been lately implemented (Scott,

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Conflict Of Interest: Case Study: Conflict Of Interest In A Business

1013 Words | 5 Pages

The case study that I chosen is the Conflict of Interest: Case study 2. As it mentioned in the case study, Hardeep who is the IT manager in a government department with more than 500 staff members and six branches across the Australia. He received the two offers from company A and company B of proposal (RFP) for the procurement of the software for the new ERP system. Now he is in an ethical dilemma when he has to choose the best offer, as he found out the offer who made by Mandeep is the general manager of company B is his best friend. He discovered that the offer from company A is better than company B. He realized that company B’s software may require more modification where increase the total cost.

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1083 Words | 5 Pages

This concept looks at prioritizing the multiple stakeholders based on an examination of their power, legitimacy, and urgency, as driven by the decision maker’s individual motivations. Using the salience framework as the base, the framework is altered to account for motivations as impacting the three dimensions. As stakeholders influence decision making in the company, the company’s motivations behind each stakeholders’ needs are ultimately driving factors behind every choice made (Weitzner & Deutsch, 2015). Kelman organizes the motivations into three categories: moral, relational, and instrumental. A moral motivation ensures that actions match the individual’s personal belief system.

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798 Words | 4 Pages

According to Walston (2014), “stakeholders are individuals and groups that have some investment in an organization and/or obtain some benefit from it” (p. 119). Stakeholders are classified into internal and external groups. Internal stakeholders are those who have a direct relationship with the organization whereas external stakeholders are those who are not directly linked to the organization, but are affected by the outcomes and activities of it. As a matter of fact, there exists a strong and reciprocal relationship between an organization and its stakeholders. As stated by Dr. Panagiotou (2013), “an organization that does not have the ability to satisfy its stakeholders defeats the purpose of its existence.”

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For-profit corporations must balance their needs with the needs of their customers. Corporations have a duty to make a profit so that their owners and shareholders can enjoy a return on their investment. If a corporation fails to make a profit they will eventually cease to exist as people will not invest in an organization that is not profitable. Corporations that solely focus on profit and neglect the needs of their customers will suffer the same fate as the corporation who does not profit at all. A corporation that completely ignores their customers needs will lose those ignored customers.

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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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Interest groups are private organizations whose members shares certain views and work to shape public policy. In public policy includes all the goals a government sets in the various courses of action it pursues as it attempts to realize these goals. Interest groups raise awareness of public affairs, represent people who share similar beliefs provide specialized information to government agencies and legislatures, keep tabs and various public agencies and officials and are vehicles for political participation. Most interest groups have been founded on the basis of economic specially business, labor and agricultural and professional interest. Some are grounded in a geographic are, others are based in a cause or idea, for example, environmental

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840 Words | 4 Pages

Obtain internal and external stakeholders’ commitment to the strategy and its implications Stakeholders are people who are invested in a company (time, money, employees). Internal stakeholders are directly connected to the company, like employees, owners and investors (Boundless, 2015). Employees: who have to be totally implicate in the company’s strategy, in the Ritz-Carlton this employee’s commitment start before to be selected for a job, the managers are looking for individuals with customer service talent and not skills. Since they are in contact with the guests, they are the image of the company, it highlight the importance of hiring a good team which will be in accordance with the company’s standards. Their goals are to make the budget objectives and to keep their post.

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They could be the employees, who have stake in the company’s success and incentive for the products to succeed. For BreadTalk, some of the stakeholders are employees, government, lenders, customers and investors. Employees are the people who are hired in an organization to provide services for the customers. Their objective is to receive salaries, benefits and job security.

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