Assignment 1 Stakeholders Essay

Submitted By mexaricanlala
Words: 729
Pages: 3

Stakeholders – Tampa Bay Rays baseball team

Stakeholders are the “individuals, groups and organizations who can affect the firm’s vision and mission, are affected by the strategic outcomes achieved and have enforceable claims on the firm’s performance.” (Hitt, 19)

Not every stakeholder has the same amount of influence which depends on the objectives of the stakeholder groups. The most common stakeholders are the shareholders of a company. The shareholders basically want to make a profit because they have invested their own capital and want to maximize that investment. Specifically for Tampa Bay Rays, the shareholders are listed on the tampabay.rays.mlb.com website it consists of eighteen names that include the McDonald Family Partnership as well as Claude Focardi Family Trust and sixteen individuals. Sternburg is the principal owner of the team. (Rays) As the principal owner of the team, Sternburg is an influential individual; therefore his ideas and goals impact the team’s vision and mission. This impact has a residual effect on other stakeholders that aren’t as influential on the team’s management strategy.

Another stakeholder category consists of the primary customers, suppliers and surrounding communities. The primary customers for the Tampa Bay Rays are the citizens of the surrounding areas like Hillsborough County and Pinellas County. The Rays have been playing out of the Tropicana Field, which is located in St. Pete, FL., since they were established. Their fans are the main customers and their fans come from both counties, but they also come from other areas of Florida, like Pasco County or Broward County. Customers, in this case the Ray’s fans, want to be able to see the games at a reasonable a price. This need that customers have to receive the most for their money can be in conflict with the shareholders need to maximize profits. The suppliers are the vendors that provide the uniforms, equipment and other tools for the team. In addition, Tropicana field is also a vendor because there is a contract between them and the team. Tropicana has a claim on the team playing in that field and can make things rather difficult for the team. I would say the MLB is a sort of vendor because it regulates the sport and the creation of teams.

Furthermore, the surrounding communities are a huge part of the success for the team. For instance, although the Rays are called the Tampa Bay Rays, downtown St. Pete business owners and community associations depend on the revenue generated by the team’s games and the business that it brings into that community. Therefore, this community has a significant stake in the team’s success and is affected by its management if it isn’t aligned with the needs of the community. For example, the team is still working on plans to move from the Tropicana Field to a stadium in Tampa, this means that