British economy

We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Their many different types of influence that change and influences that change business activity. As you may know stakeholders influence business activity but they are influenced in different ways. Employees in the business would change some ways to how business is run. This is why PLC would have group meetings with superiors to management and employees. This would gain necessary feedback for how the business is ran on a daily activity.

They might want to help change the layout of the showroom or even have a say in any new showroom ideas. The BMW management might want to gain some feedback on any new ideas they might want to put into place for instance new advertising methods. There have been many current interests because of changes that occur in the business. As different trends have helped the business to increase profits annually this has brought more expectations for the business to do better. So it would be necessary for the business to gain feedback from all stakeholders inside the business. As time progresses expectations would rise but also interests as more and more people may want to have a stake inside the business. So it would be vital to keep expectations high as this would keep employees to management happy.

OUTSIDE THE BUSINESS

One of the most important stakeholders who are not directly involved in the business is the customer because they would determine the success of the company. As PLC would offers products and services to the customers so it would be vital for them to buy the vehicles. As competition rises between rivals customers would have more interests on how companies are adapting to changes with trends and through time. Many customers who have already brought a product from the company may have an interest on how they are looked after whether that being after sales support or exchange to other BMW models.

Suppliers who would deliver models to the showroom would be interested on how many models they sell, as this would put the suppliers in some financial situation if they rely on BMW showroom sales. So they may have keen interests and obviously keen expectations for the business to progress in a positive way, as this would help the suppliers and more importantly the car-manufacturing sector. They to will have an interest in the business but not just one showrooms but overall the amount of sales produced by the BMW showroom. The Government will have interest and expectations for the whole sector as set guide line are set to which they need to follow.

This would be the memorandum they have to abide by. So expectations would be high from the government as the British economy relies on how well business do in the UK so they might want to step in if any problems occur like what happened with Railtrack. The Railtrack was under-invested so the government have been trying to sort the company out by giving loans and grants. So if any problems like this were to occur with car-manufacturing sector the government may want to help the business from bankruptcy.

CO-OP INSIDE THE BUSINESS

Many people inside the business would have a keen interest on how the business may be ran or are unhappy with any business operations. Employees might not be happy or may have an idea to help the business operation, as they are part of the business activity. In many retailers outlets they would complaint box where employees can stress their problems and also by meetings. As Co-op being co-operative this would be very important, as everyone would work together to reach agreements. The management community will be interested on how the shop is ran and may want to change some areas for the better.

The management will be interested in how the shop is doing financially as they may want to change the business activity so that they can have maximum profit in sales. They might want to sack workers if they feel this is weakness for the company. Franchises will be interested on how their products are doing in the shop, as they would receive a profit from overall sales for the product. So they might come to check their products are doing so this activity from franchises will have a stake in the business. So everyone involved in running the business will have a interest on the business as this may help conflict kept minimum whether that being with employees or even managers. Consultation is another widely used methods that involve asking groups for opinions and advice on the business activity.

OUTSIDE THE BUSINESS

There is a wide range of interest outside the business that varies from customers to the government. Customers would keep a key interest ion the business as they might be a daily customer so they might want to know about the business operation latest offers on products. Market research is vital to gain more confidence for consumer spending as you might questions they most buy and then what they least buy. This would be to extent compared to other stakeholders as competitors, creditors like banks and suppliers. Competitors will like to know how the Co-op is doing, as they might want to match the prices on most products so that more people visit their shop rather than Co-op.

Competitors stake in the business is very different to customers as they have only got a interest on the structure of the business and pricing of the products but would not be stakeholders in the business. Suppliers who would be delivering products to the store on a daily basis would have a interest in the business becaus4e if Co-op don’t sell much products this would mean less supplies need so that would cause much problems for suppliers.

If Co-op all of a sudden didn’t need many supplies this might mean financial problems for suppliers depending on how well they are doping as a business. The local community would be interested on how well the business is tasking case of pollution matters including rubbish, as they would be living in the area. So the company would try to keep conflict minimum by becoming more environmentally friendly by recycling and re-using shelves or boxes for storage.

This would help limit the amount of complaints by the local community, as this would be bad for business to have a bad reputation. Ass deliveries are all done in morning town this would help decrease complaints as commuters would not like to be held up by Co-op suppliers. Government would be interested in business operation as the UK economy relies on how well each sector does so the government would be interested on any changes and may even offer grants. As from the collapse of the rail track their government has taken over by changing the ownership and giv9ing more money into the company. So this shows on how the government would get involved in business activity as they would want many problems occurring.

STAKEHOLDERS OVERALL CONCLUSION

The shareholders will remain the same for many organisations as they would have the same interests on how well the company is doing financially and what steps the are taking to become more successful. With my two examples there is a slight difference in customer expectations. The main difference is that of the interest of the products they are buying. BMW stakeholders concerning the customers would want to buy a product that is worth the amount of money they are spending.

They would have more concerns in the vehicle itself they are about to buy or have brought. This contrast to the Co-op stakeholders as they would care more on variety of different products and price they are paying as the shop is located for the local community so the pricing of products and variety would be the most common interest. The BMW on the other hand would have much more interest as they are paying a larger sum of money for a vehicle so they might want to change the internal layout of the car like having leather seats put in.

So the interests of customers would be dissimilar for both my examples. The suppliers would have same interests, as they would want them to use the supplying service regularly. But their would be some differences on how the suppliers influence the business activity as the BMW suppliers would tell the company what to supply and when whereas the Co-op suppliers would offer them more products to sell. So conclusively the customers would have different interest for both my examples for the stakeholders and would be the most important.

Tagged In :

Get help with your homework


image
Haven't found the Essay You Want? Get your custom essay sample For Only $13.90/page

Sarah from CollectifbdpHi there, would you like to get such a paper? How about receiving a customized one?

Check it out