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*NEW* Exploring Businesses Learning Aim A: P2 Explain how two contrasting businesses are influenced by stakeholders. £11.49   Add to cart
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  3. PEARSON (PEARSON)
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  5. Btec Business Level 3 National Diploma
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  7. Unit 1 - Exploring Business

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*NEW* Exploring Businesses Learning Aim A: P2 Explain how two contrasting businesses are influenced by stakeholders.
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A2 Stakeholders and their influence • Stakeholders: o internal, e.g. managers, employees, owners o external, e.g. suppliers, lenders, competitors, debtors, creditors, customers, government agencies and departments (local, national, international), communities (local, national, international), pre...

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  • July 10, 2024
  • 6
  • 2022/2023
  • Essay
  • Unknown
  • A+

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Stakeholder- Is anyone that’s interested or invested in the business and can affect the business
success rate.

There are two types of stakeholders internal and external:

Internal stakeholders are where member or groups within a business such as the owner,
employee, shareholder and the manager which are interested in the company .They can
influence or get influenced by the success or failure of the business as they invested in the
company
External stakeholders are those who have an interest in your business for example customers,
without a customer's your business wouldn’t get any recognition or even begin at the first
place.

Internal Stakeholders

Managers

Managers are crucial when coming to making decisions and carrying them out. A
manager ensures that he’s being productive and organised. Managers are important
because they look for ways in which they can improve relationships between
stakeholders and that employees are doing the work attended. They Plan ways in which
they can improve the business sales and monitor the performance of the employees

Employees

These are the people that business needs, they work for the company to gain their
benefit and in turn, helps the business, and employees gain a shared profit. Employees
are very important to a business as they complete work set from the managers and they
have value within a business, the more engaged the worker is to the business, the better
the business will do. Employees create an insight into customer experience and overall
gain more knowledge into customers’ expectations and thoughts

Owners

An Owner is a person (or more people) that legally owns the business and controls what
happens within a business or he can choose to have a manager for that task. Owners are

, very important as they look for possible ways in which the business can beat their
competitors by looking at buying trends. Owners sell goods and provide services to
customers for profit which helps the business grow.



External Stakeholders


Suppliers

Suppliers are those that provide raw materials. They are very important to a business as
they supply goods and services to the company. An example of this can be a local
market, they get supplied with food and vegetables so they are always in stock so
customers can always rely on them.

Lenders

Lenders are investors who provide loans to businesses if needed. These loans are
available to throw the bank such as the bank of England, a business usually need a loan
when they don’t have enough money to start a business so they borrow money in which
they then have to pay back with interest

Competitors

A company that is in a rivalry with another business. To be successful in their business
market. Business owners look for ways in which they can gain a lead from their
competitors and if they need a change in their direction. An example of this is Apple and
their biggest competition Samsung. Both companies always look for ways they can
satisfy customers' needs and wants.



Debtors

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