Business Environment Essay

668 words - 3 pages

Assessment Criteria 1.2: Describe the extent to which an organisation meets the objectives of different stakeholders.
In an organisation different stakeholders have different objectives and a company will try to change their techniques to please the stakeholders.
A stakeholder is somebody who can affect or is affected by the actions of an organisation. They could be working in the company or an external party for example shareholders, employees, government, suppliers. Stakeholders hold the power to impact an organisation in several ways. Environmental groups and trade unions also come into effect when an organisation is making business decisions as they have to remain ethical and provide ...view middle of the document...

Companies will at times hold training events and company gatherings to build team rapport and help employees to feel comfortable and happy when working. Businesses will also offer free perks to employees such as free onsite gym, free parking, free coffees and refreshments and more. This helps build motivation and loyalty from employees. Employees include both management and subordinate staffs who are concerned about the strength and profitability of the businesses which enables to evaluate the ability of the business to provide job satisfaction, job security, motivation, self-actualization, payment, leaving benefits and employment opportunities (Needham, D, et al 2009)

Suppliers and other creditors are interested in information that enables them to determine whether amounts owing to them will be paid when due. Trade creditors are likely to be interested in a business over a shorter period than lenders unless they are dependent upon the continuation of the business as a major customer. A business may need to show some suppliers they’re projections so the creditor can decide whether it is...

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