Essay
Unit 1 Business environment d1
- Module
- Business environment
- Institution
- PEARSON (PEARSON)
Evaluate the influence that different stakeholders exert in one organisation
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DAMINI DHIMAN 259477D1: Evaluate the influence that different stakeholders exert in one organisation.
Introduction:
In this assignment I will be analyzing the influence that different stakeholders
exert on Tesco. I will explain the different stakeholders such as, managers,
employees, suppliers, local community, the trade union and customers.
Stakeholders are either an individual, group, or party that are interested in a
business. Commonly, many stakeholders can influence how the business
operates.
Tesco has a large organisation; therefore this means they have a number of
different stakeholders. The stakeholders can either influence a business
positively or negatively by using their power to influence the businesses
verdicts.
Customers:
The main stakeholders for Tesco, is the customers because they are the main
sources of income and they are providing the success for the business.
Customers have their own free will to choose what products they want to buy.
Furthermore, customers are looking for low-priced and affordable products as
this provides profit for Tesco’s employees and the business. Tesco would lose
profit if the products were expensive and drive customers away, meaning they need
to put the products at reasonable prices.
Managers:
Managers are important stakeholders as it puts Tesco’s reputation at stake as a
business and the earnings. This influences the managers as they are in command.
They have the authorities in the business to make it stand out and successful.
They also influence the suppliers, as there could be conflict and this changes the
services and products Tesco provides to the public. The managers also provide
objectives and aims by allocating and organizing the staff to carry out their
specific job roles.
Employees:
The employees are also a huge influence as the main objectives for them are to
provide good services, health and safety, pay rises, wages and safe environment.
This helps create more ideas and empowers them to make more decisions and
take on more responsibilities. This does not only make them feel valued but
improves the efficiency of the company.
Suppliers:
Supplies are companies you would be relying on for resources and products used
inside Tesco and its wide range of products to resell. Tesco’s relationship with
suppliers has t remain positive and loyal as it allows them to negotiate more
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