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
In this assignment I am going to discuss the stakeholders of two contrasting business’. Sainsbury’s: One important stakeholder is owners. The owners of Sainsbury’s they have it in their best interest to make the business as successful as possible by setting aims and objectives for themselves and their employees. They want to make the most profit they possibly can whilst keeping their customers and suppliers happy.
Know Your Business Environment Unit No. 1: The Business Environment Pervez Ghazi Shaikh Date Submitted: 31/10/2016 Carl Loraine Cruz 20154176 Target is the organization that I have chosen for this assignment. Target is a famous discount retailer in United States that was founded by George Dayton. It was formerly called Dayton’s Company in 1910.
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.
Each relationship with each stakeholder will differ in importance according to the “Stakeholder Salience Theory” by Mitchell, Agle and Wood. The following stakeholders will have the following relationships with SAGF (Mitchell, Agle and Wood,
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.
Businesses have been playing a crucial role in people’s lives. No matter what they go or what the occupations they are; people are drawn to get involved in businesses. However, behind the scenes of the business thriving, the environment is deteriorated each day. Many development schemes are come up with the plan related with the depletion of the environment (Shah, 2002). Because of people and environmental damages, attentions were drawn to corporations for ensuring their sustainabilities.
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders . The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
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.
Environmental factors: Both consumers and governments penalize firms for having adverse effect on the environment. Few common environmental factors are waste disposal laws, environmental protection laws and popular attitude towards the environment. In environmental dimension, IBM made some of the major technologies like to trace the weather throughout the world, IBM made computers for NASA for astrology that made them to set the satellite, which monitor the environmental changes over the globe. IBM also added some of the revolutionary environment friendly strategies that not just provides environment saving factors, but also cost saving factors like
Corporate Social Responsibility (CSR) relates to the actions of an organization and the effects on the environment and social wellbeing. It is about the way that the company assesses its actions and takes responsibility for this. (Investopedia, n.d.) CSR is a management concept whereby companies integrate social and environmental issues in their business operations and interactions with stakeholders. The company aims to achieve a balance of economic, environmental and social objectives, while also listening to the needs of stakeholders.
Discussion Nestlé’s Corporate Social Responsibility consists of looking further then the own company needs or profits and pay more attention to other stakeholders. Everyone concerned or connected to the company business will get a closer look on their situation and will be treated right. They divide the stakeholders in two categories; the first being the internal stakeholders such as employees and shareholders. The second category is external stakeholders where we find the suppliers, customers, environment and so on.
POLITICAL Political factors can often give a big impact on the business of a company. Often this factor is not in the hand of the organization. Several aspects of government policies can make a huge difference. However, all firls are required to follow the law. It is the responsibility of the organization to find how upcoming legislations can affect their activities.
There are six major macro environmental factors of a company which are demographic environment, economic environment,
Part A Macro environment is important factor affecting the development of enterprises. A macro environment is the condition that exists in the economy as a whole, rather than in a specific sector or region.(Macro Environment n.d.) Cultures, politics, technology, nature, economy and demographic are the six major forces in the company 's macro-environment.(Kotler & Armstrong 2014, p96） Political factors Political factors include government regulations and legal issues and define both formal and informal rules.(PEST Analysis n.d.) All the companies have to follow these rules.
