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The Needs and Expectations of Stakeholders Essay Sample

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The Needs and Expectations of Stakeholders Essay Sample

What the stakeholder wants from the business
How they influence the business and if there influence is successful Rank of importance
Why are they important
They want to company to keep their prices low and have a good customer relation with each customer, they also want good quality products to be sold at low prices They influence the business as the customers decide what they sell and if Tesco make money or not because the customers could easily decide to change shops.

Customers are important because they are needed for the business to succeed and sell their products and without them they would not exist

They want to be paid a fair amount for the work that they do as well as a good working conditions. They also want Tesco to do well and expand as it means that they will keep their job and have steady pay as well as more opportunities to get promotion Employees influence the business as they are the workforce and help run the business, this means they have a big say on what happens to the business to the business in the future and if they strike then they are to halt sales for Tesco meaning no profits

Employees are important as they are needed to run the business and without them there is no business Shareholder
They want the business to thrive as they are interested in making profits. They want profits to go up as then share prices go up and they receive a higher dividend They influence the business as they own a part of the business meaning they get a say in what happens. They will control what the business does in the future and the person/people with the highest per cent in the business own the business

These people are important as they are the people that fund the business and without them they would grow much slower Suppliers
They want to make sure that Tesco thrive and expand as it will then mean that Tesco will buy more products from them meaning more profits for the supplier company They influence the businesses as they will control how much they will sell their products to Tesco for and they will usually have a big influence as they will have a massive influence on Tesco profits if they decide to raise or lower their prices. Though if they are raising their prices to much Tesco could always move to another supplier

Suppliers are important as they are needed as they are needed to supply the products or they can’t sell anything to make money Competitors
They hope that the business starts to fail as it will mean that they will get more customers meaning that they will get more customers to sell to. Also because companies push each other to lower sale prices they will want to have lower prices than Tesco Competitors will have one of the biggest influences on the business as they are the people that Tesco will always try to beat and make more profits than say Asda and they influence as if the competitors lower their prices then Tesco will also have to, in hope there customers stay with them and this means that there influence is very successful

They are important because without them Tesco would monopolise the market and would be unfair for the customers as the prices would be too high. They are more important for the customers than the business Local community

They want the Tesco to help and become part of the local community as they can attract people to the surrounding areas. They also want jobs from Tesco for the local people also Tesco to sell high quality products to have a good reputation and they also want Tesco to be a company that doesn’t affect the area that they live in in terms of waste products or other environmental issues They influence Tesco as they will usually work hand in hand with Tesco so that both Tesco and the local community are happy otherwise it would make Tesco look bad if they don’t help the local community and they might start to lose customers. They also help Tesco as the local community help supply employees for Tesco and without employees Tesco can’t sustain a shop in that area

They are important as without them they would not shop at Tesco meaning no sales an d drop in profit so Tesco work hand in hand with the local community to get a good reputation meaning more sales Government Financers

They want the business to pay the tax that they should be paying and not dodge tax. They also want Tesco to increase profits so that they pay more tax to help the government They have a big influence in that if they find that Tesco have been dodging tax then they can sue them causing massive loss in profits can could destroy a business

They are important as they help the government collect the tax that Tesco owe, if they dodge tax it will make the business look bad and will get less customers Tesco (PLC) is a multinational grocery company with stores in the UK and other countries including Japan china Poland and the US and they have many stakeholders including the ones that I will list below. Firstly a stakeholder is an individual or group with a direct interest in the activities of the business because they are affected by them.

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