Explain the points of view of different stakeholders seeking to influence the aims Essay
M1 – Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations The stakeholders in a business can be a person, group or organisation that has an influence in an organisation. All stakeholders are not the same, they all have their differences. Customers
The customers are a very important stakeholder of Sainsbury’s because the aims mostly involve them, Sainsbury’s want to ‘deliver an ever-improving quality shopping experience for their customers’ therefore if customers are not happy with the produce and happen to complain to the company, the aim of Sainsbury’s has been affected and the customers have influenced this because it would then be Sainsbury’s responsibility to fix the problem and ensure that customers were happy with the produce. Sainsbury’s also have an aim to ‘provide great products at fair prices’ which shows an ethical ability from Sainsbury’s to provide their customers with products that are priced fairly, therefore is customers did not buy the products at these prices, the company would notice that profits are gradually decreasing, which would mean the customers are either not happy with the quality of the product or the price of the product, and these things would need changes. Customers
The employees of Sainsbury’s want to earn high wages and keep their jobs. Employees are more of an internal stakeholder. Their stake is that the company provides them with a livelihood. They seek security of employment, promotion opportunities and good rates of reward. Their main objectives are likely to involve improving working conditions and improving their wages.
The owners of Sainsbury’s are the individuals who have invested the finance required to set it up, keep it running and allow it to grow. The owner has a great influence on the amount of revenue/profit an organisation as this is the main source of an organisations income and the owner has a great deal of influence over the business, its strategies and performance. For Sainsbury’s, it is very important that the owner keeps the costs down and increases the profits made because they may not risk making nothing and even losing their money if the business does badly. The aim and objectives that the owner has influence on the over the amount of revenue/profit made by the business and their performance of their business.