Stakeholder

Stakeholder : 

Stakeholder

Definitions of a stakeholder: : 

Definitions of a stakeholder: An individual or group with an interest in an organization. Any individual or group who can affect or are affected by the achievement of a firm’s objective. Groups/individuals that have an interest in the well being of the company and/or are affected by the goals, operations, activities of the organization.

Stakeholders can be classified as: : 

Stakeholders can be classified as: Internal stakeholders (e.g. employees, managers) Connected stakeholders (e.g. shareholders, customers, suppliers, financiers) External (e.g. government, the community, pressure groups)

Difference between stake holders and shareholders : 

Difference between stake holders and shareholders Shareholders are individuals who own stock (also called shares) in a company in hopes of making a profit. If the company does well, they stand to make money based on how many shares they bought (own). However, if the company does bad, then the shareholder stands to lose his/her investment (money). Stakeholders are individuals who have an interest in an company, or any organization and are affected by what happens within the institution based on rules. policies, regulations, etc. For example, the stakeholders of a college are the students, staff, faculty, vendors, etc. They may be directly affected (primary stakeholders) by what the college does or how it operates. A company's stakeholders are its customers, employees, suppliers, etc.

The main stakeholders in any business are: : 

The main stakeholders in any business are: Shareholders Employees Customers Suppliers Creditors Society The government Competitor

Shareholders look for: : 

Shareholders look for: High profits High dividend Long term growth Prospect of capital gain A say in the business A positive corporate image Preferential treatment as customers

Employees look for: : 

Employees look for: High pay Job security Good working conditions Fair treatment Fringe benefits Health and safety Promotion prospects Training opportunities

Customers look for: : 

Customers look for: Low prices Value for money High quality products Good service Innovation Certain and regular supply Choice of goods i.e. variety Clear and accurate information

Suppliers look for: : 

Suppliers look for: A long term relationship with the firm Large size and high value of contracts Frequent and regular orders Prompt payment Fair prices Growth of the firm leading to more orders

Creditors look for: : 

Creditors look for: Prompt payment Payment of interest on outstanding debt Repayment at agreed date Credit worthiness of the organisation Sufficient positive cash flow to meet obligations

The community looks for: : 

The community looks for: Employment prospects Safeguarding the environment Acceptance of social responsibility Ethical behavior To benefit from employment the business creates.To be free from environmental disadvantages the firm might create.

Government looks for: : 

Government looks for: Compliance with laws and regulations Efficient use of resources Employment Contribution to the national economy Payment of taxes To receive tax revenues from profitable firms. To direct the operations of the business for the benefit of the community/nation. To control business operations and performance to ensure it remains within national laws. To assist businesses in accordance with national and local policies.

Competitors look for: : 

Competitors look for: To compete by all lawful means. To differentiate its products from those of other businesses. To compare and contrast performances with other businesses.

Conflicts of Shareholders : 

Conflicts of Shareholders