In this assignment I am going to be evaluate the influence that stakeholders exert in one organisation that is going to be Tesco. I will be evaluating 8 stakeholders and in order depending how important they are.The first stakeholder that I am going to include is the owner, shareholder, customer and store manager, competitors, suppliers , government , employees.
The stakeholder that I will be discussing about is the owner of the business which are internal also have a huge influence on the organisation. The owners are responsible of the whole business and they make sure the business runs successfully.
Second stakeholder that I would now going to be discussing about is the shareholder is the person who holds a share in the business and are involved as much a owner is in the business by making sure the organisation runs successfully.
The stakeholder that I will be discussing about is the customers which are the external customers of a business and the influence on the organisation is too much. Customers are the people who the whole profit level will actually depend on and the turnover of the business through buying the products and service from the business. Customers at Tesco have a very high influence on business progress. The customers are very important because they provide the business with the money so then the business will be able to reach the aims and objective of the business a e.g. is increase the sales by 10% in the next six months. Customers expect high quality of product and expect to not to spend too much on the products so if the product is cheaper in one store Tesco then the customers could be attractive to the business easily. The organisation Tesco keeps running successfully by creating and building a public relationship by many different ways for e.g researching the market and then meeting those needs so the business is able to be ahead of they competitives. Tesco is surviving by having loyalty customers. Tesco ensure that keep a good relationship with the customer and they met the needs of the customers by providing clubcards and special offers. Tesco is making more profit by which can be used to expand the business. Tesco is making more profit and the way it has been done is by attracting more customers and maintaining a positive relationship between the public and business. The extra amount of profit could be used to expand the business and to even advertise more in order to even attract the competitives loyal customers. Customers role in the organisation is buy the goods and services from the business. By introducing a way in order to attract more customers the marketing department has done it really well by introducing clubcard this enables the business to gain more customers.
Fourth stakeholder would be the suppliers which are external stakeholders and suppliers does have too much influence on the business. Suppliers are who provide the business with the products or services. Suppliers can make a lot of difference what the business is able to achieve and Tesco needs to make sure to keep a good relationship with them like the customers. If the supplier rise the prices or deliver the products late it would have a huge impact on the business because they are ones who are represented who are directly linked to the public and they would be affected about providing the products and service will impact on Tesco sales and how much profit more the business is able to achieve. The business not able to consistently met the customers would have impacted on the reputation of the business so the might lose they loyal customers and even difficult to attract them back from your competitives.