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Corus' main stakeholders are their customers and suppliers, investors, shareholders, employees, trade unions, local communities

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Introduction

Unit 2a - People and Business Stakeholder Introduction A stakeholder is those who have an interest in a business. It matters to them what the business does. These people may have a direct investment, or they may be affected by the activities of the business. Whatever the situation they can act to influence the way a business is run. They include: * customers * shareholders * employees * the local community * the government Corus' main stakeholders are their customers and suppliers, investors, shareholders, employees, trade unions, local communities and the general public. Corus engage with all of their stakeholders in various ways. The stakeholders listed above have various interests in Corus. Corus aim to keep their customers happy, and listen to their views and meeting their needs. With so much Competition that Corus face from companies such as Mittal Steel, a customer ignored is a customer that they lose. ...read more.

Middle

Trade Unions have their members' interests at heart, so the success of the firm means continued employment and possibly wage increases for the workforce, which is why they have an interest in Corus. Managers need Corus to perform well so that they keep their jobs and perhaps receive bonuses or salary increases. Conflicts In a business there will be a conflict between the demands of stakeholders which the business will have to deal with. Corus' customers may want low prices for the companies' product; however this may reduce the shareholders' profit. The owners of Corus, have a priority to make money, therefore a conflict would exist between the desire to make money and the provision of a service to the customer. Corus' customer may also want longer opening hours which may cause problems with the workforce having to work unsociable hours. The employees of Corus will want the demands met by the management, while they ensure the customer is happy with the service and the product. ...read more.

Conclusion

The shareholders have the greatest influence at Corus as the directors are subject to re-election every year. The suppliers can stop giving the organisation credit and the employees can go on strike. Corus are a public limited company (their shares can be bought and sold on the stock exchange), the shareholders will have the greatest influence on the company i.e. the shareholders will demand higher sales - more profits - this means bigger dividends can be paid to the shareholders). As the business expands the values of shares will rise and the firm will be able to pay bigger dividends to the shareholders. Another type of stakeholder that has a high influence in Corus is the Banks and customers. Conclusion In conclusion, any business which has stakeholders, are affected by both the external and internal types of stakeholders. The company will have its share of advantages and disadvantages with the involvement of stakeholders, as have Corus who's main stakeholder are their Shareholders due to the control and power they have over the business. Unit 2a - People and Business Asif Hussain ...read more.

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