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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.

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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.


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.


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.

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