BMS412: Semester 1 BBC Stakeholder Influence on Business Practices

This report provides an analysis of the British Broadcasting Corporation (BBC) and its stakeholders, examining the relationships and influence these stakeholders have on the company's business operations and practices. The report identifies both internal stakeholders, such as employees, owners, board of directors, and investors, and external stakeholders, including customers, competitors, and the government. It explores how each stakeholder group impacts decision-making and overall business success. The analysis highlights the importance of effective stakeholder engagement and how it contributes to the smooth functioning of the business. The report also examines the relationships between various stakeholders and their shared interest in the BBC's profitability and market growth. Overall, the report emphasizes the need for companies to consider stakeholders in their decision-making processes to ensure effective business practices.

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Stakeholder is considered as person or group of individual and with without their support
organisation not cease to exist. It is generally considered as party which have interest in an
organisation as well as that can be either impact or get affected by the business operations and
functions (Bromley and Meyer, 2017). The stakeholders can be internal or external so it is
essential for company to consider them while developing effective decision making.
Organisation selected for respective report is BBC (British Broadcasting Corporation) which is
founded in year 1922 as the British Broadcasting company as well as in year 1927 it is
corporatized as the British Broadcasting Corporation. Its head office is located at the
Broadcasting House, London, United Kingdom and their product are broadcasting as well as web
portals and their services are Television, online as well as radio. Topic covered in respective
report is relationship as well as influence of internal as well as external stakeholders on the
business operations and functions.
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Stakeholder is considered as an individual, group or a company who impact by the
outcome of a project. They are generally interested in the succession of the project. For a
company management it is essential that they must include their internal as well as external
stakeholders in the decision making process as that will leads to smooth functioning of business
operations. In respect of BBC (British Broadcasting Corporation) they are conducting their work
in Mass media industry and while conducting their operations they need to consider the
perspective of internal as well as external stakeholders as that help in conducting their work in
effective manner (Bu and Roy, 2015). There are several internal stakeholders of the respective
company such as employees, owners, Board of directors, manager and investors. On the other
hand there are several external stakeholders of respective company such as suppliers, customers,
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creditors, clients, competitors, government and so on. Below explanation of internal as well as
external stakeholders influence is mentioned below:-
 Employees – Employees are considered as group of individual who perform several task
for an organisation for remuneration. In respect of respective company their employees
influence on the decision as well as work of company. It is so because when the staffs are
motivated then the company able to attain their desire goal as well as objectives in
effective manner as they perform their work effectively.
 Owners – These are those individual or group who mainly owns an organisation. These
people can be shareholders, partners and many more (Dibie, 2017). This stakeholder of
BBC are highly influence the company. It is so because these are the one who take
decision as well as other staffs need to follow it in order to attain the company goal and
objective successfully.
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 Board of Directors – These are consider as those group of people who mainly governs
incorporated entity. These members are elected by members of an organization at the
AGM (Annual General Meeting). In respect of British Broadcasting Corporation their
board of direct influence the business operations as they are also involve in the decision
making procedure.
 Investors – These are consider as the group of people or individual who are generally
invest their funds in a company for gaining profitability ratio. In respect of British
Broadcasting Corporation they involve their investors in decision making as they
influence the decision as well as it is essential to consider their perspective. It is so
because they are investing their funds or money in business.
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 Customers – These are those people who are the king of business as they are the one who
will consume the product and if they like the product they help in growing business. In
respect of BBC they are conducting their business in mass media industry and it is
essential for respective company to involve customers in decision making (Doppelt,
2017). It is so because they are the one who have to consume the products and services of
company.
 Competitors – It is considered as rivals who generally compete with specific organisation
in respect of resources as well as market. In respect of British Broadcasting Corporation
they need to conduct market analysis and develop their strategies more effectively as
compare to the competitors. It is so because that help in attaining the desire goal by
gaining competitive advantages in potential market.
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 Government - These are those people who mainly develop rules and regulation for the
smooth functioning of business (Ni and Van Wart, 2015). In respect of British
Broadcasting Corporation their decision get impacted by government as according to that
management develop strategies and plan accordingly.
In addition to this, there is relationship between the all internal as well as external
stakeholders as it is essential for British Broadcasting Corporation to considered these people in
the decision making process so that they conduct their business operations and functions in
effective manner (van Engelenburg, Janssen and Klievink, 2015). In addition to this, another
relationship is that these all internal as well as external stakeholders are interested in the
respective company profitability ratio and market growth. It is so because that will also increase
their effectiveness as well as goodwill in the marketplace.
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By conducting evaluation of above mentioned topic it can be summarised that for every
company it is essential to consider stakeholder in the decision making process as that will help in
conducting effective business practices as well as operations. There are main two types of
stakeholders one who are present inside the company and another one who impact business from
outside. For company management it is essential to develop as well as maintain effective
relationship with the both internal and external stakeholders as that leads to smooth functioning
of the operations successfully. The main internal stakeholders of a company is employees,
manager as well as owners. On the other hand, external stakeholders are suppliers, shareholders,
customers, government, creditors, society and many more.
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