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Stakeholders are individuals or groups who have an interest in what a business does and either is affected by what the business does or affects the business by what they do.

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Introduction

Stakeholders Stakeholders are individuals or groups who have an interest in what a business does and either is affected by what the business does or affects the business by what they do. The stakeholders of Manchester United Football Club are the footballers, the supporters, the shareholders, and suppliers of hotels, ground and kits etc, and the employees of the hotels. The footballers affect the business as if they do not win their games - if they are not successful, crowds will drop, not as many people will want to purchase merchandise, the share value of the business will decrease resulting in the footballers not being able to command such high salaries. The supporters of the football team affect Man U in the way they cheer the players on as the footballers performance usually improve with the amount of support given. Fans give money to the club for tickets to each match, this helps to fund players wages and other business ventures. ...read more.

Middle

He sources the finance from banks to expand the company e.g. sets up new salons or refurbishes existing salons. If the business is unsuccessful and customers do not visit the salon again as he is the owner he won't earn as much money and will be unsatisfied with his lifestyle. Without customers there would be no business. The salon affects the customers in the way that if Spencer Hair Company closed down the customers would have to go elsewhere to get their hair cut. The employee's attitude and skill of cutting hair affects how many customers revisit the salon. If the business is unsuccessful their wages will decrease or they could possibly lose their jobs. Suppliers have to ensure they supply quality products for use on customers. If they provide products at a reasonable price the salon will sell more products therefore increasing profit for the business and the suppliers themselves. ...read more.

Conclusion

Factory workers want the club to be successful as this produces a greater demand for the merchandise and again gives them job security and the opportunity to work overtime to help meet demand. Ultimately the most powerful stakeholders in the numerous Man U activities are the footballers, as without them being successful on the football field the demand for season tickets and merchandise would decrease and the share price would drop in value. The second most powerful stakeholders are the fans, as without them supporting the team i.e. buying tickets the club would not have the money to find its other business activities. With Man u due to the fact that the players are the most powerful stakeholders and are collectively responsible for the success of the club makes it totally different to Spencer Hair Company as this is entirely dependent on its owner Garry Spencer who directly affects each aspect of the business i.e. marketing, training, customer service, ordering of product and expansion of new salons. ...read more.

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