Btec Business
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Stakeholders are a important part in a business. Different stakeholders have different interests in the business but all play a major part in it. The Main stakeholders for the Coca Cola Company are: – Employees, Owners, Banks, Customers and Trade Union.
The Employees of the Coca Cola Company are interested in being paid a competitive wage that is based on the qualifications and experience they have. They will want to be paid
equally compared to other employees on the same job level. Employees will expect to receive appropriate benefits and to have good working conditions. They will also expect to be involved in doing an interesting job that involves career progression and also some level of security in the job.
The Owners of the Coca Cola Company are classed as financial stakeholders. These are stakeholders that either give or lend money or are involved with the financial aspect of the business. The Owners will expect the business to be making a reasonable profit. Also, they will want their original investment into the company to increase in value and will want a return on the investment. Shareholders have similar interests as a owner as shareholders will receive dividends twice a year, the more the company has made the more the shareholder will receive. So the shareholder is interested in how much the company is earning.
The Trade union is an association of employees that have formed to represent workers in a particular industry regarding pay and conditions. Trade unions ensure that employee expectations are being met. The trade union are interested in seeing that the business is complying with correct regulations that effect employees, for example the health and safety at work Act 1974. They will be interested in working with employers to help them in making the right decisions. The trade union will analyse what the business does and how it does it to ensure the safety and welfare of employees working there.
The bank is a service that all businesses will use as they are a financial provider. When a company starts to use a bank, the banker will be interested in seeing a business plan to ensure the business is litigable. Banks will expect to be notified at any time of problems within the business and they will be interested in receiving payments on time. For a bank to provide the company with money, they have to see that the business is being managed well as banks will not be keen on letting their money out with fear of not receiving it back.
Shareholders and investors of the company will expect the business to make a profit. Shareholders will be interested in the dividends they are receiving twice a year and how it is comparing with other companies. They will want the investment they made in the company to be increased. If these expectations are not met they may sell their shares which means the business will have less money leaving it very vulnerable.
To meet the concerns of an employee of a business, certain expectations that they have will need to be met. They will need to be paid
a competitive wage that is higher than other companies similar
or local to avoid them moving there to be paid
a better wage. If they have certain qualifications then they will wish to be paid
accordingly to the skills they can do and the better they are the more wage they should get. Employees with higher skills will expect to be paid
more than those without. Those that are all on the same level of skill and job description will all expect to be paid
the same. Employees will wish