The Relationship and Influence of Stakeholders on Business Practices

This presentation paper analyzes the relationship and influence of internal and external stakeholders on business practices. It begins with an introduction to stakeholders and their importance, followed by an examination of how both internal stakeholders (employees, managers, owners) and external stakeholders (customers, suppliers, government) impact business decisions, strategies, and operations. The presentation highlights the significance of stakeholder engagement in translating stakeholder needs into organizational objectives and fostering corporate social responsibility. Specific examples, such as the case of Tesco, are used to illustrate these influences. The paper concludes with recommendations for prioritizing stakeholder needs, employing effective communication methods, and recognizing the crucial role stakeholders play in organizational success and growth. This analysis emphasizes the need for businesses to manage stakeholders effectively to ensure sustainability and achieve long-term growth.

Individual Presentation Paper
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Analyse the relationship and influence internal and external stakeholder have on business
practices..................................................................................................................................3
Slide 1-Introduction................................................................................................................5
Slide 2 Relationship and influence internal and external stakeholder have on business
practices..................................................................................................................................6
Slide 3 Importance of stakeholders engagement...................................................................7
Slide 4 Internal Stakeholders influence on business practices...............................................8
Slide 5 Cont............................................................................................................................8
Slide 6 Cont............................................................................................................................9
Slide 7 External Stakeholders influence on business practices...........................................10
Slide 8 Cont..........................................................................................................................10
Slide 9 Cont..........................................................................................................................11
Slide 10 Recommendation....................................................................................................12
Slide 11 Conclusion..............................................................................................................13
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Analyse the relationship and influence internal and external stakeholder have on business
practices
Title
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Table of content
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Slide 1-Introduction
Stakeholders play a major role in a business organisation as they provide business practical as
well as financial support. They are the individuals who are interested in organisation and range
from employees to investors and loyal customers. Stakeholders plays most important role as
they control the business. In order to manage stakeholders it is essential for organisations to keep
the stakeholders happy while meeting their expectations. This will allow entity to reduce the risk
of negative influence that can affect their organisation. Present report has been conducted on the
relationship and influence of internal and external stakeholders a phone business practices. This
will allow entity to reduce the risk of negative influence that can affect their organisation.
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Present report has been conducted on the relationship and influence of internal and external
stakeholders a phone business practices.
Slide 2 Relationship and influence internal and external stakeholder have on business practices
Whether they are internal or external stakeholders have larger impact upon management of an
organisation. It is essential for an entity to engage each and every stakeholder group in the
process of organisational decision making and other key aspects in order to make strong
relationship with stakeholders group.
It will allow organisation to handle responsibilities of business in more legal and ethical manner.
Stakeholders have significant interest in operations of business. They provide effective
suggestions and play major rule that allow business to maintain profitable.
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Slide 3 Importance of stakeholders engagement
Stakeholders engagement allow organisation to translate stakeholders need in the organisational
objectives that further create a significant basis for effective strategy development. Stakeholders
engagement play key essential role in corporate social responsibility that allow organisation to
build effective relationship with stakeholders while understanding their concern and
perspectives. It is essential for an organisation to engage every concern stakeholder as it is
lifeblood of effective project relationship. It helps in constituting successful meeting of project
objectives that enhance organisation profitability and transparency in market segments.
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Slide 4 Internal Stakeholders influence on business practices
Employees and managers are known as internal stakeholders of an organisation that have
significant impact upon organisational success and strategies. Along with the stakeholders
groups also have influence upon decision making of TESCO. It has been identified that owners
are having larger impact upon organisational management and undertake large base of
accountability is comparatively to managers and employees.
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Slide 5 Cont...
They are primary and key essentials internal stakeholders group of organisation. They have
significant time and financial investment within company and play effective role in operations
strategy and tactics of TESCO. It is essential for an organisation to satisfy the stakeholders group
while emphasizing on their values opinion and concerns in order to shape organization mission,
strategy and vision in effective manner.
Slide 6 Cont...
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They play essential role in the process of determining organisational strategy and play significant
role in company decision making process. They are also accountable to undertake to decision
and play most essential role as an internal stakeholder group of TESCO.
Slide 7 External Stakeholders influence on business practices
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Business organisation is made up of complex factors in social ecosystem that have significant
impact upon various ways upon organisations strategy external. Stakeholders are one of those
factors as they have impact upon TESCO decision making and the way in which company to
form their operations. It is essential for TESCO to emphasize upon external stakeholders group
of businesses in order to conduct decision-making process and other operations of company.
Slide 8 Cont..
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 Customer: They are primary and most important external stakeholders of customers it is
essential for a TESCO to understand customer needs and demands in order to satisfy
them in effective manner as they play a significant role in managing business. It is
essential for TESCO to interact with these stakeholders groups with the help of e-mail,
social media and other channels and maintain strong relationship with them.
 Suppliers: Suppliers and all other strategic alliances play a significant role in success of
business organisation. It is essential for a TESOC to maintain close relationship with
suppliers as they are key external stakeholders group of TESCO. In this it is essential for
entity to ensure strong communication, timely payments with these stakeholders Chrome
while maintaining strong relationship.
Slide 9 Cont..
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 Government: Government are also significant a cooler group of an organisation as a
play a major role in success of organisation. Government also provide regulatory
oversight and make sure that accounting procedures, legal concern in ethical practices are
being handled within an organisation. Thus, is essential for TESCO to satisfy these
stakeholders groups as they have significant impact upon organisation.
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Slide 10 Recommendation
It is a recommended for TESCO to identify each and every stakeholders group those who have
impact upon organisation and prioritise their needs and wants. Alone with this it is also
recommended to TESCO to undertake use of different methods of communication and engage
each and every stakeholders group. It is essential for company to acknowledge, monitor, listen
and communicate with stakeholders and recognise their importance in the organisation and
satisfy their needs and demands.
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Slide 11 Conclusion
According to the above mentioned analysis it has been identified that stakeholders whether
internal or external play a significant role for organisation success and growth. Thus, it is
essential for organisation to manage stakeholders in order to enhance business sustainability and
growth.
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