Impact of Internal and External Stakeholders on Business Practices

Business Environment
(BMS412)

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
LO3: Impact of internal and external stakeholders on business practices.......................................3
CONCLUSION................................................................................................................................5
REFERENCE...................................................................................................................................6

INTRODUCTION
Business environment is the external organizational condition in which company tend to provide
its services to the customers. Rosewoods is the chosen organization for the analysis in this report.
Evaluation of organizational stakeholder and the impact which is caused by the stakeholders is
done in this report.
MAIN BODY
LO3: Impact of internal and external stakeholders on business practices
Stakeholders may be an individual or an group of individuals which are having high interest in
organizational activities because they are able to affect the organizational activities or are being
affected by it (Chebbi and et.al, 2020). Due to which it is important for organizations like
Rosewoods that it is able to maintain its stake-holder's engagement with the organizational
activities through which it can achieve an efficient organizational working within the
organization. On the basis of their engagement stakeholders are categorised into two different
categories which are as following.
1. Internal stakeholder- Internal stakeholders are the type of stakeholders which tend to be
operating within the organization this include stakeholders like employee work force and
many more.
2. External stakeholders- External stakeholders are the once who tend to be operating in
the external organizational environment but are able to affect the goal achieving
capability of the company. This include stakeholders like, customers, investors, etc.
Following is the stakeholder matrix on which organizations like Rosewoods tend to develop its
working strategy. So that it is able to satisfy all the stakeholders and maintain its efficient
working progress the stakeholders are being segregated in two different factors which are power
and interest which is as following.