The Customer:
The first stakeholder I have chosen to do an evaluate on will be the consumer. The aim why I have chosen this is because I believe that the customers are one of the main and most important stakeholders within a business in order to make profit. Being the most important stakeholder they must constantly provide support to the business and give great customer services to the main priority. If the customer decided to withdraw their support and influence from the business. Then the business would fight to survive if there are no happy customers. The reason being is because the customers are the people that give money to the business in exchange for their merchandises and services. So the money that the business receives is reinvested into the business to make customer happy so they buy more products. They rely on the customers to carry on shopping with the business in order to keep it running. If the customers do not help to keep the business to run, the business will struggle to survive hence lead to closure. This will be one of the main impacts that the business will have if the customers were to withdraw their support. The customers are not alone they work with other stakeholders to ensure the business carries on running and flowing smoothly as possible while making profit. They work alongside employees to help better the business and make the customers feel good when they purchase an item. They work with the employees as they are regularly in interaction with them when it comes to visiting the store the customers and the employees are constantly interacting with each other. Also they are both joint stakeholders in the business. Being combined stakeholders they both share a sincerity of mutual interests. An example of this could be the customer wants the business to do well in order for them to carry on providing the goods and services that they do. So that the customer can carry on shopping there. The employees also want the business to do well as they depend on the business to make money and have their very own income. The business provides the employees a place to work and a place to earn money. It is important to have employees is to help communicate with customers as they need help with a product at a store a employees provide help and service for all type of customers. So they depend on the business to carry on running in order for them to have a job. As they are two very important stakeholders. They can have a huge influence on the business if they were to team up for example to have a good business you need very good employees to help customers as customers would enjoy coming to this store as they get all the help they need in the store. I believe they two stakeholders can team up and have major benefits the business for the better. For example if they business were to have a meeting to discuss some alterations to the business. Then they can ask both the customers and the employees for their opinion. As they are very important stakeholders and without them the business wouldn’t flow smoothly as it supposed to. As their opinion and views will matter a lot to the business. Although they can have a big influence if they were to work together. One opposing view that the two stakeholders can have are the pricing of the items. The reason I say this is because if the prices of some items are increased the business will make more money from the customers and hopefully the employees will get better pay on the other hand since the UK is in recession customers need the item to be low as possible as some may not have a job. But for the customers they would like the price to be lowered because they reduction. They want to be able to get more goods for less prices. So in this case the two stakeholders have opposing views where the employees want the prices to be kept high when the customers want it to stay low. This issue can be resolved by simply keeping the price at a fair and consistent level or some time every month could have a sale where more customer would come in for that sale. Where it meets the needs of both the stakeholders and ensures the customers get the goods at a price they want. The customer is by far a major stakeholder within the business. They provide important feedback and support to the business but most of all they provide the money that is needed to keep the business running. They too have an influence on the business. As many of their decisions make a difference to the company. But in comparison to other stakeholders such as managers. I personally would say that the customer has a lower rate of influence onto the business compared to the managers and other high positioned stakeholders. Simply due to the fact that the business will benefit more from the changes made by more experienced and highly knowledgeable people like the managers and CEO’s. I doubt that the managers will value the opinion of the customers over the opinion of their own staff and staff members. Due to the fact that the customers may only want to benefit themselves. Whereas the actual staff members will actually want the business to do well. Hence the business will better benefit itself if it takes on the views and advice of their own staff members rather than the customers.The staff members workers are particular are also an important stakeholder. As they provide the business with excellent services and may also attract many customers. They provide a lot of support in many ways. The support they provide is dynamic to keep the business running. If the workers were to withdraw their support from the business altogether. Then the business will fail to continue. Simply because the business needs workers to keep the business open they need workers to greet customers, serve customers and keep the business clean and generally to make the business money. Now if the workers withdrew their support the business will have no one to fulfil these roles. Hence it will fail to continue. The workers in many cases work alongside the customers to ensure the benefit of the business. They work together in the sense that they meet and greet each other on a daily basis and one will not function without the other. Meaning if there were no workers, the customers will not be able to shop. If there were no customers, there will be no use for the workers to be at the store. Both these stakeholders do share a form of common interest as they both want the business to succeed. The workers want the business to do well as they can carry on with their career. And the customers want the business to do well as they can carry on purchasing the products and services from the business. Personally I don’t believe that these two stakeholders could make an impact to the business. Simply due to the fact that the workers don’t have a big enough position in the business to make any major decisions. Furthermore I believe that the managers won’t take the decisions of the customers to seriously. As the managers and other highly positioned staff are the