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

Stakeholders, As I am setting up a Guest house I may have some people who are interested in the business. These people are called stakeholders. Stakeholders are an essential part of my project.

Extracts from this document...

Introduction

Stakeholders As I am setting up a Guest house I may have some people who are interested in the business. These people are called stakeholders. Stakeholders are an essential part of my project. They are the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of my completed business. It is very important to involve stakeholders in all areas of my project for two reasons: 1. Experience shows that their involvement in the project significantly increases your chances of success by building in a self-correcting feedback loop. 2. Secondly, involving them in your project builds confidence in your product and will greatly ease its acceptance in your target audience. I am aware that if someone has a financial stake in my business then they would also want it to grow because otherwise they would have lost some of their money. Owners of stakeholders have a finical stake in the business and like me they will have had to risk some of their own money. ...read more.

Middle

I must pay this employee fair wages, ensure good working conditions, show good leadership, and valued them as a person not just an employee. I want my employees to feel as though I am there for them, and like they can turn to me if they have any problems or queries. I do not wish for them to view me as there boss but as someone they can look to for help and perhaps even friendship. Communities: All local communities rely on new, successful businesses to emerge in the area. When I start up I will be bringing customers to the local area benefiting all those in the local community as my guests will most likely be purchasing products from near my guest house. Customers: Like all business, in order to survive I need to have customers. In order for me to have and to also keep my customers I will need to be careful in the way that I for example price things, because if I over price some of my services and products them all my possible customers will be going to other places so they don't have to pay as mush money for the same service. ...read more.

Conclusion

Managers: Managers are employed by the owner of a business when a business grows and expands and need extra help. But for me, I don't need to employ someone to take to role of manager because my business is small and only starting out. When the time comes for me to expand I will employ a manager to look after my second guest house. This position of manager will involve living in the premises as a guest house needs someone to be there at night incase anything goes wrong with the guests or any problems occur. This will mean my manager will have their residency paid for them as part of the job terms. They will also be in charge of the accounts in this guest house and be there to make sure everything runs smoothly. It is expected from my costumers that they shall receive good service and for this service to be at a reasonable price. As a business woman I will not exploit my customers and I will be as friendly as possible whilst still being professional. I will be paying tax so the Government will be looking me to expand and grow because those ways they will be getting more money form me. ...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 Marketing & Research 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 Marketing & Research essays

  1. BTEC BUSINESS UNIT 2

    They cannot do what they specialize in without a few basic facilities, these are known as needs, and they can do without some other things however a building is very important. They would not be allowed to trade without actually having a business under which their company is licensed there

  2. Mcdonalds. For this unit I will need to produce a portfolio of work investigating ...

    is a very good size and also having your own choice of toppings is very rarely made. The price of the McFlurry also reflects on the success it has been making because as it is affordable, customers prefer buying that from other ice cream parlours, the two benefits are that

  1. Applied Business Unit 2 Coursework

    Person specification Experience shown (3) Skills shown (3) Qualifications shown (3) shows how skills are tested (1) Essential or desirable (3) Clear (2) Logo (1) Company name and job title shown (2) Does it conform to legal requirements (3) Score/24 Sony Yes Yes "able to drive the business in sales and customer service" Yes very detailed.

  2. Marketing Research

    But in most research, there is a multistage selection. For e.g, We may first select specific areas or blocks in a city. These form the first stage sampling units. Next, we may select specific streets within a block or area and these are called second stage sampling unit.

  1. Investigating business

    This is what J Sainsbury has to say: "They will become part of our customers' everyday lives". Example: By providing for their daily weekly food and grocery, hoping needs, as well as providing the ability for them to buy clothing and other product depending upon the size of a store and its location.

  2. I am going to be writing about the concepts of marketing distinctiveness of the ...

    The consumer credit ACT 1974 Is a law that has more to do with financial agreements such as credit sale agreements? This law gives lenders the right mostly huge companies to agree with an individual referred as a borrower to allow them borrow high amount of money to purchase cars, electronic products and house improvements.

  1. Unit 2 Investigating business

    There are job centres in various different areas' which also offer advice to people on starting up their own businesses. New businesses can get help with premises and management from the UK business incubation centre I had a look into what they do for businesses on their website (www.ukbi.co.uk/what-we-do.aspx)

  2. Research into Business Plans

    This helps with all the different aspects and features of the business before and after it has started up. A business plan is created to help assist the analysis of how effective a business would be if it were to be set up and whether the business is a sustainable idea.

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