Stakeholder Influence on Business Practices

Business Environment

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK...............................................................................................................................................3
Stakeholder influence on business practices................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
Business environment refer to the surrounding of the business in its internal and external
environment and the working of the company in the environment including the stakeholder’s
interest and influence in the company. Tesco is one of the largest retailer brands in the UK
market. The report will help in understanding the business environment (Kozubikova,2017).
TASK
Stakeholder influence on business practices
Corporate Stakeholder: -
A corporate stakeholder is a person who can be affected or a group of people who can
get affected by the action of the business. Every company have stakeholders in both internal and
external.
Internal Stakeholders: -
Internal stakeholders are those parties and those individual or group that have directly
participate in the management of the company. Tesco as one of the top retailers in the UK market
with most of the share in the retail sector in UK. There is internal stakeholder in the Tesco which
directly affect the management and the decision in the internal part of the company. Internal
stakeholder influences the success or failure in the entity as they have vested interest in the
company. Primary stakeholder is the second name of the internal stakeholders.
Internal stakeholders are dedicated to the company in providing the services. They have
a high affected on the decisions, performance and other activities of the company. If there is an
absence in the internal stakeholder the company can’t survive long run. That’s why they have
such a great impact on the performance of the business.
Internal stakeholders of the company: -
Employees: - Employees are one of the most important part of the company and are the crucial
element of the company. They can influence the whole company and for that Tesco give
different things and rewards to maintain the employee rely on the company and stay motivated
and work hard for the company and achieve the goals. Tesco are dedicated to its employees.
Owner: - Owner is an internal stakeholder which can directly affect the business with the
decision he made in the company and owner is the person who keep other motivated and
influence the company to work in a positive way.
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