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Points of view from different stakeholders
Transcript of Points of view from different stakeholders
What on earth are "
Types of Stakeholders
In Tesco, each stakeholder wants to achieve something out of the business they are involved in but Tesco has to make various decisions that will balance out the interests of all stakeholders.
By Gabriela, Marvel Comics and Cleon.
Stakeholders are individuals, groups or organisations who have an interest in a business
Are the individuals or groups that have an interest within the business – Employees and Managers
Are the individuals or groups that have an interest but are outside of the business - Local Community and Suppliers
You also have
who aren't exactly internal or external, but can be classified as having a contractual relationship with the organisation. - Shareholders
Stakeholders are all equally fundamental, as they are like a cycle in which they benefit each other from their own purpose and actions. These actions can lead to influence and interests that will form, but everyone will have
The recent news about the Tesco managers overstating £250m in profits, has upset the shareholders investing in the business and therefore led to many of them losing interest in the business, withdrawing all their money and may have joined another organisation.
This is our presentation and in this presentation we will explain to you what a stakeholder is and how their different interests could become a dilemma.
M1: Explain the points of view of different stakeholders who are seeking to influence the aims/objectives of two contrasting businesses.
Let's break it down..
Lilian Baylis Technology school
Students will want the best possible teaching of education they could get.
These same interests, opinions and views are formed from the businesses aims and objectives.
This can create conflict because each stakeholder will want something different from the business
Suppliers want to have good satisfaction and feedback from their products, whilst managers will want to expand and create more stores, so they can increase their organisations income and budget.
Customers want quality goods for low prices, they basically want to feel like they got more than their moneys worth
Employees want to have increased salary or equivalent to the work they commit BUT also want to teach students in the best possible ways.
Shareholders want increased profit for the company they are investing their finances in.
Why the stakeholders will conflict
The customers and shareholders interests don't compliment each other and is more or less opposing each other as the customers want lower prices on products or low prices for purchasing a certain amount, whilst the shareholders want more and more profit to receive a return for their share of investments.
What can happen if stakeholders conflict?
Because the business will have to make decisions that other stakeholders won't like, it could lead to losing good people to different organisations and if time and resources are allocated elsewhere rather than focusing on employee training, it could lead to a growing list of mistakes made within the company.
An example of unhappy stakeholders is if the salaries of all employees have been shaved lightly to invest in the use of 'green' energy in order to reduce the carbon footprint left behind by the organisation.
The business managers of Tesco lack the personal skills most businesses would like to have and that is
We appreciate your attention and thank you for watching!
In Lilian Baylis, Teachers may want to to have a raise in their salary as they may feel they are not getting adequate pay in comparison to their work and effort put in to teaching young adults; they will rebel against the government by going on 'strike' and not coming into school. They will be aided by another stakeholder known as the Trade Union, which will step in and strengthen the validity of their views and make sure that the interests of all employees are met. If they aren't however, they may join another business or organisation.
What are the aims and objectives of Tesco and Lilian Baylis?
- To transform the life opportunities young growing adults have and nurture them, so they can become the happiest and most successful people in the future.
- Want to make as much sales of their products as they can and continuously make more income and they will continue that cycle for as long as they can.
But what exactly are stakeholders..?
Stakeholders within these businesses will attempt to bend the aims and objectives to meet their interests, if it doesn't already.
They all seek out the perfect operating conditions that will give them good reasons to continue doing their job. These reasons are just like pillars that keep a bridge standing.
What can be done about it?
Firstly, just like your main meal - burger, you get a side order - fries. In a similar way, if the salary is unsatisfactory to the employee, they can be compensated in other ways as
. For example, the employee may be given a company car or increased pay during holidays.
The manager could do negotiations between the key conflicting stakeholders or invent terms that they both can compromise on. This is called
Or the person with senior qualities forces and executes a decision based on the amount of authority they possess.