Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations
(M1) Explain the points of view of different stakeholders seeking to influence the aims and objectives of two contrasting organisations
Points of view of Mark and Spencer stakeholders:
Customers
They would usually want Mark and Spencer to produce high-quality, value-for-money products. Customers often identify with the brands they buy. They like to see improvements that give them better value for money. Customers would want aims and objectives that are focused on satisfying their needs as customers. Mark and Spencer do have a number of objectives associated with customer satisfaction, which customers seek to influence.
Employee
They would want to earn high wages and keep their jobs. Employee is 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.
Owners
They are normally interested in how much profit the business makes. They may be as a sole trader or partnerships. They own the business, and so will have most influence upon decisions. Owners are often thought to be the most important stakeholders because they might have put a good part of their life into setting up business Different shareholders may want different things, causing conflict. Profits are likely to be important to this group of stakeholders. In a company, they are generally shareholders.
Government
These want business to be successful, to create jobs and to pay taxes. They want to see prosperous businesses that take a full responsibility in looking after the welfare of society. They are not directly involved in decisions with Mark and spencer, but however it can be a major influence on decisions, for example; by introducing laws. The government will want Mark and Spencer business to do well since this will create more jobs and bring in more tax revenue.
Points of view of Mark and Spencer stakeholders:
Customers
They would usually want Mark and Spencer to produce high-quality, value-for-money products. Customers often identify with the brands they buy. They like to see improvements that give them better value for money. Customers would want aims and objectives that are focused on satisfying their needs as customers. Mark and Spencer do have a number of objectives associated with customer satisfaction, which customers seek to influence.
Employee
They would want to earn high wages and keep their jobs. Employee is 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.
Owners
They are normally interested in how much profit the business makes. They may be as a sole trader or partnerships. They own the business, and so will have most influence upon decisions. Owners are often thought to be the most important stakeholders because they might have put a good part of their life into setting up business Different shareholders may want different things, causing conflict. Profits are likely to be important to this group of stakeholders. In a company, they are generally shareholders.
Government
These want business to be successful, to create jobs and to pay taxes. They want to see prosperous businesses that take a full responsibility in looking after the welfare of society. They are not directly involved in decisions with Mark and spencer, but however it can be a major influence on decisions, for example; by introducing laws. The government will want Mark and Spencer business to do well since this will create more jobs and bring in more tax revenue.