Essay
Unit 1 -D1: explain the influence that stakeholders have on your business
- Module
- Unit 1: Business Environment
- Institution
- John Ruskin College (London)
Unit 1D1: explain the influence that stakeholders have on your business
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In this task I will provide an in-depth evaluation of the influence thatstakeholders have on the Coca Cola PLC
Work together:
Some stakeholders work together to get work done more effectively, meet
objectives and bring more focus and cooperation into an organisation.
Leaders try to inspire workers and it is the manager’s role to try to guide and
assist staffs in achieving what the latter has in mind.
Managers and employees also work together to help generate effective
solutions in the business. If there is good communication between these two
shareholders, the business will run more smoothly as the staffs will work in
desirable conditions.
Common Interests:
Overall, one way or another, every shareholder in a business has a common
interest. That is, they want the business to survive and succeed to be able to
benefit from its achievements.
The government and employees share common interests in terms of
employment. The government wants all the citizens to be employed to keep the
economy in good condition. Similarly, the employees also expect to secure a
job to satisfy their basic needs.
Opposing Interests:
On the other hand, owners and the government have opposing interests.
Stakeholders are interested in making profit. While paying TAX, the amount of
profit will decrease, and will be a disadvantage for the owners.
Owners and employees : Most employees want a rise in salary, especially when
a company has a high income. Owners however, are not very likely to meet
their demand as this will decrease their total profit and be an inconvenience.
Solution:
As a solution to the problem stated above, the owners might meet the needs of
the workers by other means while trying to give out as little money as possible.
For instance, instead of increasing salary, staffs can be offered other benefits
like a certain percentage off their shopping from the.
Conclusively, we can take note that some shareholders may have more common
or opposing interests than others and vice versa. Therefore, to make the
business run accordingly, adequate solutions have to be put forward.
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