Essay
Essay Unit 1 - Exploring Business P2 and M1
- Vak
- Instelling
Exploring and analyzing the Relationship and Communication between Stakeholders at Sainsbury and British Heart Foundation
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Moses Ogunbiyi and Unit 1 Task 1bThe Influence of Stakeholders
A Stakeholders are anyone with an interest in the actions of a business. This section of my report will
explore the different expectations and influences that the stakeholders of Sainsbury’s and British
Heart Foundation have.
Sainsbury’s Stakeholders:
Customers – Customers are an important external stakeholder for Sainsbury
because they are one of their most important assets which can contribute to
maximising Sainsbury profit. The customers hope to achieve a unique service or
goods that will benefit their needs and wants at an affordable cost for them.
Customers are at the top with regards to stakeholder priorities as they are the people
that allow the business to function, if they do not feel they are getting quality service
that they deserve, then they will simply take their money to another competitor that
will provide it for them.
Employees – Employees are important stakeholders for Sainsbury because they
operate the business internally, they come second on the stakeholder chain as a
business cannot serve its customers if it does not have willing and capable staff who
are pleasing to interact with. Employees are hoping to achieve a superior rank in the
business hierarchy so they can gain better pay rate or more power in their job.
Employees can greatly increase Sainsbury activities by the influence they have on
customers purchasing ideas and customer service, as a result can increase the flow
of cash into a business such as Sainsbury.
Shareholders - Shareholders are internal stakeholders as they own the company, so
therefore have decision making power proportional to the number of shares that they
own in Sainsbury. Shareholder hope to achieve an increase in capital for their shares
of the business, so they can sell it off as profit, an additional achievement is to gain
high dividend from Sainsbury. Shareholder influence Sainsbury activities by investing
, in their stock which can be uses to open new outlets, begin expansion projects and
more.
Government – Government are external stakeholders because they set out the rules
and regulations that Sainsbury has to follow to stop any illegal activities from
occurring, such as mistreatment of workers or selling groceries that do not meet
health and safety guideline. The government hope to gain corporation tax from
Sainsbury and many other large companies in the UK so they can inject it to the
economy like health care and education. The government can increase or decrease
tax depending on the economic stability so Sainsbury could have to pay more or less
corporation tax to the government.
Managers – Managers are internal stakeholders because they oversee a department
or group of employees within the company. The mangers hope to achieve promotion
to executive roles in the company. Managers Influence on Sainsbury activities is
crucial because they patrol their allocated branch so that their department can make
the most profit in its area.
Suppliers – Suppliers are external stakeholders because they supply goods to
Sainsbury, they hope to establish a good trading deal with the business in the hopes
of gaining profit. They influence Sainsbury actives by providing goods for them to sell
off to consumer to make a profit.
British Heart Foundation Stakeholders:
Customers – Customers are an important external stakeholder for BHF because they
are one of their most important assets which can contribute to maximising profit for a
charitable course. The customers hope to help people in need by donating or
purchasing from BHF. Customers are at the top with regards to stakeholder priorities
as they are the people that allow the business to function, if they do not feel they are
donating to a good charity then they will look for another competitor that will go better
job. Their Patients can also be considered as customers because they require a
specific type of service.
Employees – Employees are important stakeholders for BHF because they operate
the business internally, they come second on the stakeholder chain as a business
cannot serve its customers if it does not have willing and capable staff who are
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