In this part of the report, I will be talking about the two-different business and their different stakeholders. Stakeholders are people that are interested in the business. They are normally, ‘individuals’, ‘groups’ or ‘organisations’ that are affected by the activity of the business. Examples of stakeholders are: Owners Managers Workers Suppliers Business 1 Tesco: Tesco is a well know multinational store full of different customers. There are many stakeholders. The table below shows Tescos stakeholders and what part they play in influencing the business. Stakeholders Relationship to the business How they influence the business Employees They work at Tesco and they have interest in the business. They tend to rely on their work for their income, discounts and holiday pensions. This then means that they are willing to work as long as they are getting what they deserve. Employees can influence Tesco every day, if they concentrate on their work and make use of their job. They can also tell the managers if there is anything wrong with the work environment. If they do this, and the place gets improved, then it would mean that, Tesco would be seen as a better place. However, they can also have a negative influence on the business because they might have a strike, or ban overtime working hours. If they do this, then many customers might think that the manager of Tesco can’t keep control of the business. This would then mean that the business will become unpopular. Managers The manager is in charge of Tesco and they have an important say in Tesco. However, they have to work more than the employees due to the fact that they have a big responsible. The decisions they make might have a positive or negative effect on Tesco. Managers can influence Tescos every day, if they do their work right. This then includes what products they should offer to customers. They also have right to make decisions on who to fire and who to hire. However, they can also have a negative influence. They have the rights to make company policies and form formulate. This can be seen as a negative because the manager might not listen to the workers and might make a wrong decision. This would then mean that if can affect the running and profit making of the business. Also, it would mean that it can make Tesco unpopular and many customers might not like the change. Owners Owners are different people from the workers and managers and they tell everyone what to do in the business. In general, they are in charge of the company. They decide how much each person gets. They normally find ways of making money. Owners can have an influence on Tesco because they are seen as the important people at Tesco. They have a say in how aims are being made and decided. However, they can also be a negative influence because they can make decisions on what to sell, without consulting anyone. By doing this, the public might not like this meaning that they won’t visit Tesco. Customers They are someone who spend their money on products and valuable goods. They look for products that have good quality and they have value for money. Customers can have an influence on Tesco. They can have a good influence on Tesco because if they like the product and the quality of the product, they would visit Tesco more. This would then lead them to telling other people to visit Tesco, meaning that they will visit Tesco, making it a popular place. However, they can also have a negative influence on Tesco. If the workers ignore the customers concerns, the customers might not like it, meaning that they won’t visit Tesco. This would then lead them to losing sales to rivals. Business 2 British Heart Foundation: British Heart Foundation is an organisation that helps people who have heart problems. They try and raise money to help them with their treatments by doing different fund-raising activities. The table below shows the different stakeholders and how they influence the business. Stakeholders Relationship of the business How they influence the business Donors and fund-raising sources They are the one who helps in with the funding process. They normally give money or they donate their organs. In this case, the people who have died, they can get their hearts for those who need help. Donors and fund-raising sources can have an influence on British Heart Foundation. This is because the organs they get can actually save the lives of people. Also, the fund-raising sources can influence British Heart Foundation, because the amount of money they give can affect the amount of lives. However, some of the people might not be organ donators which means that they won’t be able to save the lives. Also, the fund raisers can have a negative because the might not give enough money. Volunteers They are the most important people because they are the people that help out with the charity. They make sure that everything is going right and that they get all the fund-raising activities are up and running. Volunteers a have an influence on British Heart Foundation because if they do they work right, then it will mean that they will get regular customers that will always donate. However, they can have a negative influence as well because, they might not be earning any money and they might be working for long hours as well. This is a negative influence because they might not like the fact that they have to work for a long time, meaning that they might quit. Community They are also important because they are the one that gives the money and donations for those that needs help. They have an influence on British Heart Foundation because they are the one who decides whether they should give the money or not. Conclusion Overall, there are two types of stakeholders. They are the internal and external stakeholders. Internal stakeholders are stakeholders that are within the business and external stakeholders are stakeholders that are outside the business. For Tesco, the internal stakeholders are: Employees Managers Owners The external stakeholders are: Customers Government For British Heart Foundation, the internal stakeholders are: Volunteers The external stakeholders are: Community Donors and Fundraisers In my opinion, I think the stakeholders for the charity are better because they actually put more effort in to the business which they know will help other people. However, the stakeholders for Tesco only make people come to Tesco to make them popular and for them to actually earn a profit.