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 crease 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 about the organization.
extraneous Stakeholders: These are parties who do not get involved in the business in an operational basis, neither show 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 aware of its stakeholders, their expectations and the type / take of risk which they grass impose on the organization.
Given 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 stage business Security
Job Satisfaction
BenefitsIndustrial Action
Resignation
Negative Behaviour
Connected Stakeholders
Partners / ShareholdersAttractive Return for Investment
perceptual constancy of OrganizationReplacement of Management
Selling off Shares
Financial Institutions obligingness with Rules / Regulations
Financial StabilityReject to suffer Funds
Increase occupy Rates
SuppliersRepayment of Credit Sales
Faster RepaymentReject to Provide Goods
Refusal of Credit Sales
CustomersHigh Quality Products / Services
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



If you want to get a full essay, wisit our page: write my essay .