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business studies coursework

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Business Studies Coursework Theory: Stakeholders A stakeholder is any individual or group that is affected in some way by a company's activities. Stakeholders range from small shareholders with a few shares in a company, to communities in which a company has business premises that may employ a few, or thousands of people. Getting stakeholders involves establishing good lines of communication between a company and its various stakeholders and then maintaining a constructive relationship with them. Through this relationship, stakeholders can have their say and the company can listen and respond. To establish relationships with your stakeholders by consulting regularly with your employees, responding positively to their needs and aspirations and generally treating them well. This will bring several important benefits to the company: * employees will work hard and are seldom absent * high morale and good health raised productivity and improved efficiency * the company will gain a reputation as a good employer, which will make it easier to recruit and retain employees * the company will become known for the quality of its goods, customers will want to supply them ...read more.


However the most important thing is the shareholders, no business can ignore its customers, if the business can't sell its products then it will go bankrupt. If it doesn't keep its workers happy then it will become unproductive. The company may not mind not selling its products to the local community as along as it is selling its products somewhere else. However if the shareholders are unhappy then they can sack the directors or sell the business to someone else. For My Business: For my business I intend to make the most of all my stakeholders and listen to their suggestions which will be beneficial to the business. In this way Aemono will maintain a close relationship with its consumers to ensure it is making products that will meet their needs. Listening to consumers in this way helps the company to maximize its investment in product research and development, and increase its share in the market. Engaging with stakeholders helps ensure potential problems are addressed, or changes communicated and understood. ...read more.


However the stakeholders that I will concentrate on most will be the shareowners, because if the shareowners are unhappy they could see the business to someone else or make other changes, so in order to avoid this I am going to concentrate on making sure that the shareowners are happy. I will also make sure to have constant communication with the employees to see to there needs and any suggestions that they might have for the business or any problems that need to be resolved, this way I will be able to keep my employees happy. I am also going to concentrate on the customers because if they are unhappy with my business then I will go bankrupt, so it is my priority to keep them happy. All of my aims and objectives are very important and I will concentrate on all of them, but the 3 that I think are most important for my business I will pay more attention to. ?? ?? ?? ?? ...read more.

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