Stakeholders: Identify the various stakeholders that influence the purpose of organizations.

Lesson 3/33 | Study Time: Min

Course: Level 3 Diploma in Business and Management

Stakeholders: Identify the various stakeholders that influence the purpose of organizations.

🌟 Did you know that stakeholders play a crucial role in shaping the direction and purpose of an organization?

Stakeholders are individuals or groups who have a vested interest in the success of a business. They can significantly influence the decisions and overall direction of an organization.

📚 Types of Stakeholders

There are several types of stakeholders, each with unique interests and influences on a business.

👥 Shareholders: These are the owners of the company who have invested their money into the business. They are primarily interested in the profitability of the company and the return on their investment.
👩‍💼 Employees: The people who work for the company. They are interested in job security, fair compensation, and a positive work environment.
👥 Customers: The people who buy the company's products or services. They are interested in the quality, price, and availability of these products or services.
🏭 Suppliers: The businesses that provide the company with the materials or services it needs to operate. They are interested in the company's financial stability and its ability to pay for these materials or services.
🌍 Community: The people and businesses located near the company. They are interested in the company's impact on the local economy and environment.

💡 Stakeholders' Influence on Business

Stakeholders can significantly impact the purpose and decision-making of organizations. For example, shareholders may push for strategies that increase profits, while employees may advocate for better working conditions. Customers may demand higher quality products, and suppliers may require timely payments. The community may call for the company to reduce its environmental impact.

A tech company may have the following stakeholders:

- Shareholders: Want the company to increase its profits

- Employees: Want the company to invest in professional development

- Customers: Want the company to develop innovative products

- Suppliers: Want the company to pay its bills on time

- Community: Wants the company to reduce its carbon footprint

Understanding the different types of stakeholders and their influence on business is crucial for any organization to thrive and achieve its purpose.

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Class Sessions

1- Introduction 2- Types of Businesses and Ownership: Understand the different types of businesses and their ownership structures. 3- Stakeholders: Identify the various stakeholders that influence the purpose of organizations. 4- Organizational Structure: Understand how businesses are organized. 5- Business Targets: Describe the different types of targets that businesses aim to achieve. 6- Achieving Business Targets: Identify the strategies and methods businesses can use to achieve their targets. 7- Factors Affecting Businesses: Identify the legal, political, and social factors that can impact businesses. 8- Impact of Political, Legal, and Social Factors: Describe how political, legal, and social factors can affect businesses. 9- Introduction 10- Human resource management: Understanding the process of selecting employees and the importance of employability and personal and communication skills. 11- Managing physical and technological resources: Recognizing the importance of physical and technological resources in employee selection. 12- Accessing different sources of finance: Identifying various sources of finance available for organizations. 13- Understanding financial statements:Understanding the importance of financial statements in evaluating the financial health of an organization. 14- Introduction 15- Importance of marketing in an organisation: Understand the significance of marketing in a business and how it contributes to its success. 16- Marketing research and planning: Learn about the process of conducting marketing research and using it to develop an effective marketing plan. 17- Targeting customer groups: Understand the concept of targeting specific customer groups and the reasons behind it. 18- Developing a coherent marketing mix: Learn how to create a well-rounded marketing mix for a new product or service. 19- Introduction 20- Human resources planning in organisations: Understanding the factors involved in planning for human resources in an organisation. 21- Employee motivation in organisations: Understanding how organisations motivate their employees. 22- Employee performance management: Understanding how organisations manage and measure employee performance. 23- Employee cooperation in organisations: Understanding how organisations gain cooperation from their employees. 24- Introduction 25- Types of Business Information: Understanding how organizations use different types of business information to fulfill their purpose. 26- Effective Presentation of Business Information: Knowing how to present business information effectively. 27- Limitations of Business Information: Understanding the limitations in relation to the use of business information in an organization. 28- Communication Methods for Business Information: Knowing how to communicate business information using appropriate methods. 29- Introduction 30- Health and safety legislation and regulations: Understand how health and safety legislation and regulations affect a business working environment. 31- Requirements for a healthy and safe workplace: Know the requirements for healthy, safe productive working conditions. 32- Role and responsibilities of key personnel: Understand the role and responsibilities of key personnel in ensuring health and safety in the workplace. 33- Risk assessment: Be able to assess and manage risk.

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