• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Stakeholders - a stakeholder is the name for a group or individual who has an interest in or is affected by the business, this can include anyone, such as the staff, customers, managers, owners, government etc

Extracts from this document...

Introduction

AO4 Stakeholders There are lots of stakeholders for the Tin Drum; a stakeholder is the name for a group or individual who has an interest in or is affected by the business, this can include anyone, such as the staff, customers, managers, owners, government etc. There are two main types of stakeholders, these include: 1. Internal Stakeholders Internal stakeholders are normally part of the business, they include: * Staff - the staff are the main part of the business as they run it and control most aspects of the business. The interest of the staff is to have a well paid, secure job. The staff's objectives are to serve customers in the friendliest way they can, also they want to produce the best goods so they will be careful when handling goods. Over a period of time, the staff would like to see extra holidays and generous fringe benefits such as a Christmas bonus, birthday bonus, etc. The only way they would change their expectations would be if there was either poor management in which they would complain to someone as high up the chain of command as they can, also if there was quiet an aggressive area and the customers were to start getting violent, the staff should expect some protection, e.g. ...read more.

Middle

Now the business is up and running properly, they want to have good returns on their investments by decreasing costs and maximising profits. The Directors objectives are to steer the business in the right direction and make sure it is profitable, they can also vote on who is the managing director and help debate on important issues with the business. Over a period of time, the directors would like to see the business expand and use their good investments to do so, with this backing, the business will be able to rely on the directors as a first option for a loan, etc. as they will have good be receiving good dividends if the business is successful. The Directors expectations will be the business succeeding and giving good returns on their investments, but if the business ever starts to decline or lose sales, the Directors will lose interest and be less willing to invest more. The directors rarely conflict with other stakeholders; this is because they normally are the business and so and internal stakeholders can't really disagree, the shareholders are the only ones that could ever disagree but as in Tin Drum the shareholders are the directors. ...read more.

Conclusion

The suppliers affect the Tin Drum because they deliver all the food and drink so Tin Drum heavily relies on them to be prompt and on time, if they are not, this could cause disruption. * Government - the government is always interested in business because of employment, they will also want full taxation and they want Tin Drum to meet the legislative requirements. The government also creates laws to stop Tin Drum for being unlawful in its competitiveness. I don't believe the government will change its expectations of Tin Drum. The government constantly maintains high standards and accepts no less. The government may have come to expect more taxes off Tin drum due to the expansion. * Local Communities - the local communities are interested firstly because of employment, the business also raises the price of property in the area. An example of this is when the first branch opened at Seven Dials in Brighton, the area was rather run down; six years later there are many up-market shops and an art gallery and The Dials Restaurant. The price of all the houses increased greatly as well. Jacey Rix-Martin (ASM) AO4 - 1 - ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. REPORT ON THE BUSINESS OF MARKS & SPENCER

    and act upon it as necessary. There are a number of communication channels that the transmitter of the message can use to send the message to the receiver. The choice of communication channel will usually depend on the type of stakeholder that the message is being sent to (i.e.

  2. I have selected a nursery because there is high demand in the UK as ...

    Furthermore I will then look at my competitor's price and see what the difference between the two is. Employment in Ealing Employment By Industrial Sector, 2002 - Ealing, West London, London and GB. Ealing West Ldn. London GB Total No.

  1. There are a various amount of stakeholders in McDonald's they are Employees, Customers, Government, ...

    off them as they will get that money back plus interest back off McDonald's. The bankers are interested in McDonald's because if they borrow �5000 off the bank for Free Gifts or other things needed for the business they will not just pay �5000 back they will pay interest on top of that.

  2. Identify the stakeholders you feel will have an interest in the business.

    For example if they think that they don't work for fair wages then they can go on strike, which would eventually pressure the financial director to pay those wages. External stakeholders: * The Community: Business as are an important part of the community.

  1. Business Aims and Objectives.

    From the application form, Tesco wants to find out as much as they can bout their future employees to see if they hold the right attitude to become a member of the `Tesco family` and help achieve their aim of gaining customer loyalty.

  2. There are many ways in which business can be organized

    PLC's must have a minimum �50,000 share capital, and can sell their shares to the public and may be quoted on the stock exchange. A stock exchange acts as the market for second hand stock and shares (securities). It therefore encourages investment in business, offering investors a degree of protection through its strict rules of admitting firms (AIM).

  1. In this coursework I need to produce a detailed business report on one medium-sized ...

    IVR - Interactive voice response This is a menuing system on the telephone to filter out those calls that can be handled without an operator. The customer selects various options so that calls can be transferred directly to the appropriate service or person.

  2. BTEC Business Unit 1 - In this report the two groups that I will ...

    by working for the business. It will also help them to gain a secure future and by them being employed helps them with their future pension. Directors The directors would have a very close eye on the business as, they will be accountable for any loss or any damage that could or would happen to the company.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work