Question

Kindly do not copy paste from GOOGLE.

The text defines stakeholders as: “Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does.” Every organization has stakeholders. Identify the possible stakeholders for one of the following firms and discuss their interest:

A water utility company

A multinational food company

A local airport

Please answer in 150 words or more. Use your own words

Answer 1

Running a business involves managing multiple stakeholders both internal and external while ensuring the business is grown with respect to revenues and size. Organization is responsible and accountable to multiple stakeholders who are directly or indirectly influenced by the organization’s operations and practices.

Below are the key stakeholders for a multinational food company -

1. Shareholders or investors - Shareholders invest in the firm and expect profits from the firm to ensure they get huge amount of returns.

2. Employees - Employees expect the firm to grow while they also are concerned about their individual development.

3. Customers - Customers expect quality products from the firm at relatively lower prices.

4. Suppliers and third party manufacturing partners - Suppliers expect increased business from the firm considering they follow all the quality and safety standards of the food company.

5. Government and regulatory organizations - Regulatory organizations like FDA expect the firm to maintain all the safety and quality standards to ensure the food products are safe for consumer use.