What is Stakeholders and How They Give Benefit to Social Enterprises?

  Assignment Help   29th Dec 2021

Whenever people heard this term “Stakeholders”, so many questions arise in the mind. Like what is a stakeholder? What they do actually do? Are they being a supporter of the company or just the colleague? What steps must be taken in stakeholder management and so on. If you are going to write an assignment on Stakeholders, then you must have complete knowledge of the topic. In this blog, we will learn what is Stakeholders and what are its basic types. Other than that, you can also hire stakeholder management assignment help at reasonable prices.

What is Stakeholder or Who is a Stakeholder?

Those who get affected by the actions of the organization or business are called as a stakeholder of the organization. Stakeholders are those people without which you can't imagine the existence of the organization.

Types of Stakeholders and how can they give benefit to the organization:

Government

The organization needs a location for experiencing growth in business, thus they take a place from stakeholders, that is “government”. They pay taxes to the government, creates employment opportunities, follows legislation, and so forth. In this way, the government acts as a stakeholder. You can hire management homework help to know more about the role of government as stakeholders.

Related Post: Stakeholders Management Process and Its Effect on The Company

Employees

The valuable employees in an organization earn their bread form the organization. The company issued salary or wages to the employees who are working in an organization. These companies give jobs security to the employees, compensates for the loyalties and their job, all these make a huge responsibility on employees of the organization, thus they are also stakeholders.

Customers

Customers buy products from a particular brand. They invest their money in a brand which replicates them by giving items and services in exchange for money. The company promised to offer the quality product to the customers, which makes an ethical relationship between the brand and customers. Thus, in this way customers are also considered as Stakeholders.

Suppliers

Suppliers are manufacturers who produce the final products of the company at affordable prices. These are usually small scale industries who offer the benefit of big companies of final product and delivery. In this way, huge companies give the opportunity for suppliers to make products. It creates job employment for the people or manufacturers of the small company. All in all, suppliers also come under the list of stakeholders.

Community

Companies also provide job opportunities to a community and also give them a role in environmental protection, a share of the organization, involvements, and truthful communications. This led to a community as a stakeholder.

Trade Unions

The main work of trade union is to provide work atmosphere which is in high quality, workers protection, and job opportunities for the candidates who are capable & interested in doing jobs.

Owners

The senior officials or owners of the company have a main concern of making profits in the business. They make a keen eye on the position & market share of the company. Along with that, they concern with other matters too like the longevity of the organization, CSR, social goals, succession planning, capital raising and so forth. Thus, it also plays a major role as a stakeholder.  You can hire cheap homework help to know more about its role.

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