A customer is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration.
An Employee is a person who is hired to provide services to a company on a regular basis in exchange for compensation and who does not provide these services as part of an independent business.
Suppliers are the manufacturers, processors and packagers.
Determining ownership in law involves determining who has certain rights and duties over the property. These rights and duties, sometimes called a 'bundle of rights', can be separated and held by different parties.
A Trade Union is an organization of workers who have banded together to achieve common goals such as protecting the integrity of its trade, achieving higher pay, increasing the number of employees an employer hires, and better working conditions.
Employer Associations are a body of employers, usually from the same sector of the economy, associated to further the interests of member companies by conducting negotiations with trade unions, providing advice, making representations to other bodies, etc.
Local and National Communities:
A community has been defined as a group of interacting people living in a common location. The word is often used to refer to a group that is organized around common values and is attributed with social cohesion within a shared geographical location, generally in social units larger than a household.
Governments create the rules and frameworks in which businesses are able to compete against each other. From time to time the government will change these rules and frameworks forcing businesses to change the way they operate. Business is thus keenly affected by government policy.
Expect better security
Expect more attention towards customers
Need higher pay
Need higher pay
Want better business relations
Expecting higher profits and customer satisfaction
Government owned and is pleased with services
Want better health securities
Expect higher pay
Expect more motivation
Expect better support
Local and National Communities
Happy with services and expect the same in the on-going future
Expect better services in the future
Can affect business with tax inflation, etc.
Links and Interdependencies between stakeholders:
A business can’t run by its self. It needs all the elements and stakeholders to work together so that they can run a successful business.
Owner and Employee:
The owner and employee should have good relations in terms of business. The owner should appreciate the work of the employees as they work hard for the rising of profits. If the owner is not good to the employees they can neglect their work and this will affect the business.
Employee and Customer:
The employees should have a good attitude towards the customers as they buy from the organisation. They help in the sales of the organisation. If the attitude towards the customers is harsh, the customers will neglect the company and go for a substitute, therefore resulting in loss of the company.
Government and Owner: