William King External Stakeholders
External stakeholders are those groups outside a business. Definition of external stakeholders is individuals who are not affected by the financial side of a company. External stakeholders of a business can include customers, political connections and other businesses in the similar industries. Local residents /community: William King is located in a residential zone with lots of homes nearby. Some of the work is very hot and in the summer, it is necessary to have the doors open. At night this can cause noise for the residents and Wm. King do get some complaints. The company are in the process of undertaking a noise assessment. Asda is also located in a residential zone with loads of shops and homes nearby. Asda is not noisy as the William king factory this is because William King work with metal, heavy and noisy machinery which causes lots of noise but with
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Local Authority: If William King wants to build a new extension the council have to approve the plans.
If William King need to dispose of waste materials [especially toxic waste] the council need to be sure it is done legally and taking the public safety into account. William King as a responsible company with an excellent reputation takes their responsibilities very seriously. If they did not have this, their customers would go elsewhere. To achieve this standard, William King has had to prove that their operations make the least impact on the environment as possible. Bigger Lorries are used so that fewer journeys are made, and those are better planned. Recycling and waste reduction are important because Land Fill Tax is charged on all waste that has to be disposed of, and this is an extra cost. One example is where the Tin mill has changed from paper wrapping to shrink wrapping; another is the increased reuse of timber pallets, 75% being the
target. Customers: customers are a big part of ASDA this is because if there were no customers there would be no ASDA; ASDA has to sell products/services to make profits if they don’t sell any products they will be making a loss instead of a profit. Customers are an external type of stakeholder this is because they don’t have any interests in any business profits they just like to buy good quality stuff; this means that the customers are there to make profit for the business in other words customers have a real role in helping the business to develop and grow. These results in longer term relationships where customers feel they have an input into the service offered. It builds loyalty and creates the potential for increased business. Customers expect good value, high-quality products and great service. These identify the value customers place on its services, products and highlights potential improvements.
Local Authority: If William King wants to build a new extension the council have to approve the plans.
If William King need to dispose of waste materials [especially toxic waste] the council need to be sure it is done legally and taking the public safety into account. William King as a responsible company with an excellent reputation takes their responsibilities very seriously. If they did not have this, their customers would go elsewhere. To achieve this standard, William King has had to prove that their operations make the least impact on the environment as possible. Bigger Lorries are used so that fewer journeys are made, and those are better planned. Recycling and waste reduction are important because Land Fill Tax is charged on all waste that has to be disposed of, and this is an extra cost. One example is where the Tin mill has changed from paper wrapping to shrink wrapping; another is the increased reuse of timber pallets, 75% being the
target. Customers: customers are a big part of ASDA this is because if there were no customers there would be no ASDA; ASDA has to sell products/services to make profits if they don’t sell any products they will be making a loss instead of a profit. Customers are an external type of stakeholder this is because they don’t have any interests in any business profits they just like to buy good quality stuff; this means that the customers are there to make profit for the business in other words customers have a real role in helping the business to develop and grow. These results in longer term relationships where customers feel they have an input into the service offered. It builds loyalty and creates the potential for increased business. Customers expect good value, high-quality products and great service. These identify the value customers place on its services, products and highlights potential improvements.