Choose a local business in your area and make a list of its stakeholders. Are some...

Choose a local business in your area and make a list of its stakeholders. Are some more important than others? If so, list them in order of priority.

Solutions

Expert Solution

There are two types of Stakeholders :-

1. Internal stakeholders:- Internal stakeholders are entities within a business.

2. External Stakeholders:- External stakeholders are entities not within a business itself but who care about or are affectedby its performance.

Lists are as follows :-

Internal Stakeholders
Employees	Employees have significant financial and time investments in the organization, and play a defining role in the strategy, tactics, and operations the organization carries out. Well run organizations take into account employee opinions, concerns, and values in shaping the strategy, vision, and mission of the firm.
Managers	Managers play a substantial role in determining the strategy of the organization, and a significant voice in operational decisions. Managers are also accountable for the decisions made, and act as a point of contact between shareholders, the board of directors, and the organization itself.
Owners	Owners (who in publicly traded organizations can include shareholders) are the individuals who hold significant shares of the firm. Owners are liable for the impacts the organization has, and have a significant role in strategy. Owners often make substantial decisions regarding both internal and external stakeholders.

External Stakeholders
Customers	Customers of Very Important Stakeholders for any business as no business can even survive without customers.
Suppliers	Suppliers and other strategic alliances are interdependent, where the success of one will impact the success of another. As a result, suppliers are closely related to organizations as key external stakeholders.
Government	Governments tax businesses, and therefore have a firm stake in their success. Governments can in fact be considered primary stakeholders, considering the profit motive involved. Governments also provide regulatory oversight, ensuring that accounting procedures, ethical practices, and legal concerns are being handled responsibly by business representatives.
Local community	A business can be a great benefit to a community, providing tax money, local access to unique goods and services, jobs, and community development programs.

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

A local business leader is considering starting a business in your area and has hired you...

A local business leader is considering starting a business in your area and has hired you to conduct a market analysis and deliver a formal report of your findings. Consider a market segment with which you are familiar. Write a brief report to be delivered to your sponsor in which you describe the status of competition within this market and recommend a course of action for the start-up. Develop a response that includes examples and evidence to support your ideas,...

Choose a local shopping center or strip mall in your area (provide the name and address),...

Choose a local shopping center or strip mall in your area (provide the name and address), preferably one with vacancies. Imagine that you are the new owner of the mall. What steps would you take with your new property, e.g., marketing, capital improvements, lease terminations/renewals, tenant mix, etc?

Choose a firm with which you are familiar in your local business community. Is the firm...

Choose a firm with which you are familiar in your local business community. Is the firm successful in following one (or more) generic strategies? Why or why not? What do you think are some of the challenges it faces in implementing these strategies in an effective manner?

Choose one design method from the list below. Using your example, make a list of 2...

Choose one design method from the list below. Using your example, make a list of 2 or 3 advantages and 2 or 3 disadvantages for using the method. Cluster sampling The name of each student in a class is written on a separate card. The cards are placed in a bag. Three names are picked from the bag. Identify which type of sampling is used and why. A phone company obtains an alphabetical list of names of homeowners in a...

Choose a possible environmental hazard in your area or in the community you choose for your...

Choose a possible environmental hazard in your area or in the community you choose for your project. Research the hazard, make a graphic of the issue with possible effects and to whom. Make sure to cite your sources.

You wish to make a model showing how traffic flows around your city or local area....

You wish to make a model showing how traffic flows around your city or local area. Describe the steps you would take to construct your model as well as some hypotheses that your model could test and the model’s limitations in terms of what could not be tested.

Find a small business in your area that uses job order costing (JOC) - Choose one...

Find a small business in your area that uses job order costing (JOC) - Choose one product they make and discuss: Why you think they use job order costing. What does the product sell for? What costs would be included in direct materials - make a guess as to what direct materials cost? Estimate how long it takes to make this product. Make a guess as to what direct labor costs. Identify at least 5 costs that would be included...

Using your current knowledge of genetics, make a list of some of the genes that all...

Using your current knowledge of genetics, make a list of some of the genes that all life forms may share.

Submit your responses in the Discussion Area for Economiics of Healthcare You are advising the stakeholders...

Submit your responses in the Discussion Area for Economiics of Healthcare You are advising the stakeholders of a small firm that is one of a handful of manufacturers of disposable contact lenses, wetting solution and other products related to eye care. The stakeholders are wrestling with a proposal to implement a price increase for some, all, or a large number of their products. They all agree that doing so can help offset recent cost increases the firm has experienced, but...

Choose a fast-food restaurant chain that does business in your area. Describe the company's target market...

Choose a fast-food restaurant chain that does business in your area. Describe the company's target market and explain how its marketing mix is designed to appeal to this target market.

Subjects