Describe the different stakeholders who influence the purpose of two contrasting businesses
A stakeholder is anyone who has an interest in any company. There are 8 different types of stakeholders which are: employees, suppliers, customers, trade unions, employer association, government, owners, and the local and national communities.
My two contrasting businesses are RSPCA and Argos.
Stakeholders-
Employees- want to seek security of employment and also be able to get promotions and a good pay. The employees also want their work to provide them with a livelihood. They also want to work for a good business which they can be proud to say they work there and of what they do.
Owners- owners of any business have an aim to make their business rise; they are in charge and want to make a profit. Owners can be sole traders, partnerships or they have shareholders which all need to succeed in the business. Their business may be their life and livelihood because they have taken their time and effort building up the business. The owners take the principle risk especially if it’s a sole trader or partnership because if they don’t make the business work they will lose everything they have put into it. Owners are said to be the most important stakeholders and it is said it will affect them the most.
Suppliers- The suppliers have an interest in the companies they supply because they need guaranteed work and money so they can continue making goods to supply. The suppliers want steady orders and prompt payments from the business to keep their business running aswell as the one they’re supplying. They also want to feel valued by the company they supply for supplying them with the goods the business sells.
Customers- The customers take an interest into the business as they like to see what products and services the business is providing. They also want to see price drops and