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Role of Stakeholders in an Organization

Write an essay on ONE of the following topics: How does organisational culture impact on an organisation’s performance? Discuss the role of stakeholders in an organisation. Choose ONE of the following laws and explain why it is so important in the workplace? The Equality Act The General Data Protection Act The Health and Safety at Work Act Which is most important in an organisation? Control, power, or influence? For your topic you should discuss relevant theories and their impact on organisations. You should illustrate your essay with examples of

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Added on  2022-12-16

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This article discusses the role of stakeholders in business organizations, including their influence on decision-making. It explores stakeholder theories, models, and the impact of UK corporate governance laws. The article also highlights the role of leadership and management in stakeholder engagement, using Tesco as a case study.

Role of Stakeholders in an Organization

Write an essay on ONE of the following topics: How does organisational culture impact on an organisation’s performance? Discuss the role of stakeholders in an organisation. Choose ONE of the following laws and explain why it is so important in the workplace? The Equality Act The General Data Protection Act The Health and Safety at Work Act Which is most important in an organisation? Control, power, or influence? For your topic you should discuss relevant theories and their impact on organisations. You should illustrate your essay with examples of

   Added on 2022-12-16

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Discuss the role of
stakeholders in an
organization
Role of Stakeholders in an Organization_1
Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Role of stakeholder in business organizations.............................................................................3
Stakeholders theories and their impact........................................................................................4
Model of stakeholders and their influence...................................................................................5
UK Corporate Governance Law and their influence...................................................................6
Role of leadership and management of Tesco in stakeholder engagement.................................7
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................1
Role of Stakeholders in an Organization_2
INTRODUCTION
Stakeholders are the group of person, organization or institution that put interest in the
financial statement of the company in order to take their decision. The have a right to know what
is actually going on in the business as they either worked on the company, invested in the
company or purchase products of the company. The report will state the role of stakeholder in
the business organization along with the impact of stakeholder theory on business such as Tesco
Plc. The report will also describe the models and laws of stakeholders along with the leadership
and management role of Tesco in stakeholder engagement.
MAIN BODY
Role of stakeholder in business organizations
Stakeholders of any company plays vital role in planning, executing and implementing
the strategies of the business. With their interest and rights, they can mould the decision of the
businesses (Awadari and Kanwal, 2019). The stakeholders can either be internal such as
shareholders, employees, top management and external such as government, lenders, investors,
suppliers, customers, advisors etc. The various role of stakeholders is:
Direct the management: The stakeholders such as top managers are the part of the board
of directors and employees of the company, that need to take actions for ensuring
success. For example; Employees of the Tesco take necessary action such as operate the
plant & equipment to convert the raw material to finished goods.
They Bring in money: The stakeholders such as investors and shareholders invest their
funds or saving in the company. They can even take out their money from the company
in case of poor financial performance (Alam and Raut-Roy, 2019). The also put pressure
on the company to change their strategy and tactics. For example: For example;
BlackRock Inc. is the shareholder of Tesco with 6.64% holdings.
Help in decision-making: The internal stakeholders have the power to take the decisions
of the organizations along with the power to disturbed the decision as well. For example;
Tesco stakeholders such as top managers have the power to appoint the senior level
managers. They can also take the decisions related to acquisitions of other company such
as Sainsbury along with the liquidation of the Tesco business.
Corporate conscience: Large stakeholders such as government and environmental
institutions monitors that the company is following the human rights and environmental
Role of Stakeholders in an Organization_3

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