Stakeholders

1.1Stakeholders Stakeholders could be simply defined as, any individual, group or organisation having a valid interest in a field or matter. (UniSA, 2009) There are mainly 3 types of Stakeholders. They are namely, Internal Stakeholders: These are parties who will run the pucker on a day to day basis, and those who make decisions on behalf of the line of products. Connected Stakeholders: These are parties who accommodate an interest in the descent with limited engagement. These stakeholders would only require summarized information closely the organization. extraneous Stakeholders: These are parties who do not get out convolute in the business in an operational basis, neither exhibition never-ending interest. Their interests are limited as long as the business is run in the expected manner. Figure 2 - Types of Stakeholders These stakeholders could have sufficient power to influence managements select of strategy. Therefore, an organization should be well aw are of its stakeholders, their expectations and the type / take of run a risk which they grass impose on the organization. condition under is a stakeholder analysis which identifies stakeholders of the salon, their expectations and the type / level of risk which they can impose on the salon.

StakeholderExpectation (s)Associated Risk Internal Stakeholders Employees horizontal surface business Security Job Satisfaction BenefitsIndustrial legal action Resignation Negative Behaviour Connected Stakeholders Partners / ShareholdersAttractive chase away for Investment perceptual constancy of OrganizationReplacement of precaution Selling off Shares Financial Institutions obli gingness with Rules / Regulations Financial! perceptual constancy preclude to suffer Funds Increase occupy rank SuppliersRepayment of Credit Sales Faster RepaymentReject to Provide Goods Refusal of Credit Sales CustomersHigh Quality Products / serve Price Value shed to Another Provider spreading of Ill word of Mouth External Stakeholders...If you lack to get a full essay, order it on our website: OrderEssay.net

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