Stakeholders + Developing Good Working Relationship 10 Mark Question

by sam_atwalbtinternetcom (student)

Stakeholders 10 Mark Question (June 2010)

Evaluate possible consequences to a business you have studied of not listening to its stakeholder groups.

Tesco has many different stakeholders and they all have different interests. There are a variety of consequences to Tesco of not listening to these stakeholders.

Employees want things like job security, fair pay and good working conditions. If Tesco do not meet these needs then employees may become de-motivated. This will affect their productivity and therefore negatively affect Tesco’s efficiency. Or employees might leave which will mean Tesco will have to replace them. This will cost Tesco money due to the hiring and training of new staff; reducing their overall profit.

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Shareholders will want a share of the profits (dividend) rather than the profits being put back into the business or paid to employees via bonuses. If Tesco do not meet this need then shareholders might sell their shares in the company. This will reduce the price of Tesco’s shares, which might cause people to lose confidence in the business making it harder for Tesco to get investment.

The local community will want jobs from Tesco but not a lot of noise or litter around their area. If the local community complains, Tesco must listen because they are also its customers and if they are not happy they will stop buying from Tesco and the business will suffer with less sales and profits.

Tesco needs to listen to its different stakeholders because if they are not happy with Tesco they can act and Tesco could get bad publicity or lose money. It is a lot easier for Tesco to listen to its stakeholders at least within reason.

Developing Good Working Relationship 10 Mark Question (January 2010)

Google have developed a good working relationship between employers and employees. They have used a number of factors to achieve this.

Google offer their employees an incredible working environment. This includes: gourmet food at the canteen, free haircuts on site, pool tables, games consoles, relaxation areas, comfortable and colourful furniture amongst other things. As a result of this employees at Google feel valued and are motivated to stay at Google. The uniqueness of Google’s working environment means this factor is very successful at helping to develop a good working relationship.

Google also pay for any qualifications that their employees might want to take, as well as bringing in speakers to help develop their employees. Generally speaking employees at Google value education and therefore appreciate the focus Google place on training and development. This again helps build a good working relationship as employees feel as though they can grow as humans at Google which is a key motivation for many people. However many employees are probably already quite well qualified and so the success of this factor is somewhat tempered.

Google also pay their workers a fair wage. While all employees want to be paid fairly this factor is not that successful at developing a good working relationship at Google because it is possible for employees to get a better wage elsewhere but without the extra benefits that Google offer.

I believe that the most successful factor for developing a good working relationship at Google is the working environment they offer. This is because unlike the other two factors it is completely unique to Google and will make their employees feel special and extremely valued.