D1 Evaluate the Influence Different Stakeholders Exert in One Organisation
The first stakeholder I am going to evaluate is customers which are external stakeholders. Customers contribute to profit levels and turnover through buying products and services. People are stakeholders in a company for financial reasons, customers do not want to have to spend an excessive amount of money to purchase a product, so if the product is cheaper in one store, such as Tesco, than in another store then customers will buy the cheaper one which then attracts more customers.
An organisation survives through customer loyalty i.e. …show more content…
Tesco's suppliers influence the business by making sure they have the right amount of stock delivered at the right time. If their suppliers do not supply high quality goods this would be a disadvantage for Tesco. This could lead to a reduction of customers. If their suppliers supply high quality goods this would be an advantage for Tesco's as their customers would be happy.
The fifth stakeholder I am going to evaluate is the government which is an external stakeholder. The government sets corporate tax rates for businesses so that they pay their taxes. This way, a business can make its contribution towards the society. As a result, the government uses this money for economic growth and development. Paying taxes help these businesses to streamline their processes, as a result of more efficient infrastructure and management. The taxes paid also assist in supporting backward countries, so that overall demand of their products is not only restrained to UK, but includes exports to these nations too.
Government laws are there to handle disputes, errors or poor judgment of a given person. In any society, disagreement between employees can break down a healthy structure, so the laws are in place to attempt to guarantee equal rights to each member.
The final stakeholder I am going to evaluate is owners which are internal stakeholders. One of the owner’s jobs is to manage employees.