Wednesday 14 December 2011

Stakeholders. Difference between internal and external?

Stakeholders are anyone whom cares about the failure or success of a business. They can affect or be affected by the company.
Internal- stakeholders within a business.
E.g. Employees:Affect by quitting or not giving good enough service. Affected by being fired.
 Managers:Affect by changing the business. Affected by being fired.
 Shareholders: Affect by taking put their shares. Affected by their shares going up or down.
External- outside of the business.
E.g. Suppliers: can affect by not supplying a good enough product be affected by the company not buying there product anymore.
Government: affect-change tax rates, laws and policies. Affected by the business going into debt.
Customers: Affect by not buying the business' products. Affected by the company not selling they're required product.
Competition: Affect by selling better products. Affected by not having good enough products to compare.

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