Explain the Roles of Both Internal and External Stakeholders in the Selected Business and Show How Their Objectives and Expectations Have Changed over Time

4268 words 18 pages
Explain the roles of both internal and external stakeholders in the selected business and show how their objectives and expectations have changed over time.

What is a Stakeholder?

A stakeholder is someone who is interested in a company or business, e.g. Tesco; they can either be an internal or external customer to the business. They may also be affected in a situation that happens to the company because they them selves may of given and invested money into the company or may just be interested in it and use it quite often. They can either have direct or indirect control of the business, internal usually being direct while external being indirect control of the business. Key stakeholders are those who draw in resources such as money
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They therefore may give managers more to do because other managers have been laid off. This may mean that they have to manage and evaluate more staff, team leaders, evaluate more peoples wages and assess them to the Tesco Headquarters. They may have less help insuring that the reputation of Tesco is kept in tact. They also may have to attend more meetings and evaluate more targets that the supermarket has to complete.

Employees - Internal

Employees are internal to Tesco. They are mostly interested in the features such as their job security, good pay, the environment they work in, their pension and perks (holidays) and promotions available.

Job security to employees is very important, is is basically their assurance that they have and can keep their currant job. With the days we live in today when people are struggling to get jobs, people who do or already have jobs want to know that they can keep their job and not live in the fear that they could be made redundant. Employees with a high level of job security can be guaranteed by the company they work for that they will not be made redundant. Companies that cannot and do not offer a high level of job security may find it difficult to interest people in working for them; however, this may not bother people when struggling to get jobs, they would take any job offered to them but their loyalty to the company and the work given to the company may be low. So job security not only looks at how likely the employee

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