D1- evaluate the influence different stakeholders exert in one organisation.
In this assignment I will be evaluating the influence different stakeholders have in one organisation. A stakeholder is someone who takes an interest in a business whether it being small or big. For example, in Nike, a stakeholder could be an employee or a customer as they would have to take massive interest in the business.
Out of the two businesses I chose for P2 and M1, I will choose newsagents.
The first stakeholder I will evaluate is customers. In a newsagent, customers are the businesses main source of finance; this is because the customer’s main influence is to buy the newsagent’s products and services. Customers are external stakeholders which mean …show more content…
This leads to attracting new customers to increase revenue and profit.
The main influence that an owner has on a newsagent would be is having a big say in how the aims of the business are decided, but other groups also have an influence over decision making. For example, the directors who manage the day-to-day affairs of a company may decide to make higher sales a top priority rather than profits. This shows the sense of direction for the business, you normally get this through the mission statement which the owners would decide.
The next stakeholders I will be evaluating are the suppliers. Suppliers are one of the most important stakeholders for a newsagent, as they are the source of the businesses inventory. Suppliers are the organisation that provides products for newsagents to resale. What suppliers hope for is that the products that they offload onto the newsagents are among favourite brands and that the newsagents carry on to buy from them, this leads to a healthy work relationship between suppliers and newsagent, also a healthy profit is being made by the both businesses.
Another stakeholder to evaluate would be the government. The government are external stakeholders, this means that they are interested in the business but from the outside. The influence that they would have on a newsagent would be that they have to pay tax to