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Stakeholders - case study of Boots plc

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Introduction

Stakeholders Boots Plc have various kinds of stakeholders in their business who do various kinds of jobs suitable for which group there are in. Like any other Plc their stakeholders at least have a say in the business depending their role. E.g. shareholders have a bigger say than the employees who have very little say in the business. Boots Plc have the following external stakeholders in their businesses that play different roles between them are: - > Pressure Groups > Local Community > Government > Financers (Banks/Creditors) > Suppliers > Customers Although they have external stakeholders in their business the must have internal stakeholders for them to run their business properly and be successfully at the same time. These internal stakeholders are similar to external because they have different roles to play between them and are essential for the business. These internal stakeholders who help the business are: - > Employees > Owners > Managers Roles of external Stakeholders and their influences Pressure groups Pressure Groups play a huge part in Boots Plc as they try and help employees or any other people having problems. (E.g. if 400 employees are sacked, Pressure Groups try and do the right thing by trying to get all the jobs back for people who have lost them). "Trade union Usdaw is to hold talks with management at Boots to discuss today's announcement that 900 jobs are to be lost at its Nottingham head office. ...read more.

Middle

Other major businesses contribute directly to the local community's by sponsoring or other activities, however Boots Plc don't do this. The local community welcome Boots Plc because they bring benefits by providing employment. Government Government plays a very big part in Boots Plc for instance if Boots Plc wants some information regarding their business they have to respond to the government and also Boots Plc are legally obliged to pay taxes to the inland revenue which is done through the government. The government have a variety of reasons to be interested in Boots Plc, and some of them are: - > Inland revenue collects income tax from Boots Plc. This government agency are particularly interested in the financial affairs of Boots Plc > Another government agency, which has a duty to collect taxes, is Customs and Excise. It collects added tax (VAT) and also keeps an eye on the financial affairs of Boots Plc > Regional offices collect a wide range of information on business on behalf of the government and is also run by the government Boots Plc are expected by the government to provide the goods and services that the economy needs and also to provide employment. Government expect from Boots Plc goods to and services to be sufficient and of sufficient quality, to allow the country to trade with the rest of the world and the economy to grow. ...read more.

Conclusion

> Owners of Boots Plc have other interests like international investment because the trade fairly and try to avoid environmental damage. Owners of a Boots Plc are likely to be interested in the success of Boots. Like any other single group their influence is ultimately is greater then them. Owners of boots Plc have hopes and ambition for the business which has lead the to put their own money into it. This shows us that the owners of Boots Plc are very motivated to see the business succeed. Managers All the managers of Boots Plc as well as the directors of Boots Plc are the company's stakeholders. Junior employees in Boots Plc don't have a bigger say than the mangers who also have a say in how the business is run. Manager's expectations are the following: - > Reputation is vital so the managers want to have a good reputation for being successful locally and nationally > Working in a business that is constantly growing > Also want a greater role in making decision Managers of Boots Plc are responsible for the efficiency of running the business. Manager of Boots Plc have the power to be innovative. The managers can also be responsible for the failure or the success of Boots Plc than the owners. It is important that the owners are appointed with care and are properly rewarded for their management abilities. This is why senior managers can attract very high salaries, for their management skills. BUSINESS STUDIES - UNIT 2 - SECTION A AHMED LOONAT 11N ...read more.

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