Stakeholders can be briefly defined as any party who are interested in an organization. This might be a member of an organization, volunteer, staff, management, board member, founder or a contracting body, client, community of interests such as locality or grouping of people who might benefit. Every business organization has a range of stakeholders. An organization is established based on blending the various interests of these stakeholder groupings.
An objective to be the market leader of an organization will benefit all stakeholders because customers will receive high quality products, shareholders will receive high dividends, and employees will receive high wages. The reader of this report can get a better idea regarding the stakeholders of Nestle Private Limited by viewing the following diagram (Figure 2. 0) which explains about the stakeholders of Nestle Company. Figure Number 2. 0 (Stakeholders of Nestle Company)
Furthermore there are two types of stakeholders in an organization, * Internal stakeholders * External stakeholders 3. 1 Internal stakeholders of Nestle Includes the parties who are interested in the business organization within the same particular business organization are called as internal stakeholders. These can be managers, employees and directors and so on. According to the above diagram 2. 0 the internal stakeholders of the Nestle Corporation are managers, Board of directors, Unions etc. . 2 External stakeholders of Nestle External stakeholders are the people or the party who are interested in a particular organization externally. For example we can take the above diagram into account, distributors, suppliers, Shareholders, Regulatory bodies, Government, Competitors and the business partners of Nestle Private Limited. 3. 3 The Significance or the Importance of the Stakeholder analysis * Identify the organizational position in the market
This refers to the market the organizational position in the market. This will also help the organization to identify their weaknesses and strengths. * To identify the strengths and weaknesses of an organization This refers to identifying the internal and the external environment of Nestle Private Limited and identifying the internal and external factors which affect the organization. * To identify market gaps in an organization
Certain stakeholders such as managers are interested in business activities to identify the small market gaps in the market where certain people demand for special goods and satisfying those special customers appropriately. * To utilize limited resources to achieve organizational goals 4. 0 Environmental analysis of Nestle 4. 1 PESTEL analysis Political factors Specifically, political factors include areas such as tax policy, labor law, environmental law, trade restrictions, tariffs, and political stability.
Furthermore, governments have great influence on the health, education, and infrastructure of a nation. So the government can include a tax or certain restrictions to the products of Nestle Private Limited in the fast moving consumer goods market. The domestic political environment is unstable up to a certain extent in the Sri Lankan Market, so especially to a Multi National Corporation such as Nestle, it should affect dramatically in factors such as importing and exporting goods along with raw material influences.
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