Business Success Dependent on Stakeholder Influence
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Business Success Dependent on Stakeholder Influence
Business success is dependent on the influence of stakeholders, as they play a crucial role in determining the success or failure of a company. Stakeholders are individuals or groups that have an interest or concern in something, particularly in relation to an organization.
In a business context, stakeholders can include shareholders, customers, employees, suppliers, and the community in which the business operates. Each of these groups has a unique set of needs and expectations, and failure to meet these needs can lead to negative consequences for the company.
Shareholders are typically the owners of the business and have a vested interest in its financial performance. They expect the company to generate a return on their investment and may exert pressure on management to prioritize profits over other considerations.
Customers are the lifeblood of any business and their satisfaction is essential for the company’s survival. They expect high-quality products or services and good customer service, and can easily switch to competitors if their needs are not met.
Employees are also important stakeholders as they are the ones who make the business run. They expect fair compensation, good working conditions, and opportunities for advancement. A motivated and engaged workforce is essential for a company’s success.
Suppliers are also critical stakeholders as they provide the raw materials and other resources that the company needs to operate. They expect timely payment and a fair price for their goods and services. A strong relationship with suppliers is essential for a company’s long-term success.
The community in which a business operates is also a key stakeholder. This includes the local government and the people who live and work in the area. They expect the company to be a good corporate citizen and to minimize any negative impacts on the community.
In order to achieve business success, it is essential for companies to manage the needs and expectations of all stakeholders. This requires a balance between financial performance and other considerations such as social responsibility and environmental sustainability.
In conclusion, business success is dependent on the influence of stakeholders, as they play a crucial role in determining the success or failure of a company. Shareholders, customers, employees, suppliers, and the community in which the business operates are the key stakeholders that a company should consider. A company must balance the needs and expectations of these stakeholders in order to achieve long-term success.
RUBRIC
Excellent Quality 95-100%
Introduction 45-41 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Literature Support 91-84 points
The background and significance of the problem and a clear statement of the research purpose is provided. The search history is mentioned.
Methodology 58-53 points
Content is well-organized with headings for each slide and bulleted lists to group related material as needed. Use of font, color, graphics, effects, etc. to enhance readability and presentation content is excellent. Length requirements of 10 slides/pages or less is met.
Average Score 50-85%
40-38 points More depth/detail for the background and significance is needed, or the research detail is not clear. No search history information is provided.
83-76 points Review of relevant theoretical literature is evident, but there is little integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are included. Summary of information presented is included. Conclusion may not contain a biblical integration.
52-49 points Content is somewhat organized, but no structure is apparent. The use of font, color, graphics, effects, etc. is occasionally detracting to the presentation content. Length requirements may not be met.
Poor Quality 0-45%
37-1 points The background and/or significance are missing. No search history information is provided.
75-1 points Review of relevant theoretical literature is evident, but there is no integration of studies into concepts related to problem. Review is partially focused and organized. Supporting and opposing research are not included in the summary of information presented. Conclusion does not contain a biblical integration.
48-1 points There is no clear or logical organizational structure. No logical sequence is apparent. The use of font, color, graphics, effects etc. is often detracting to the presentation content. Length requirements may not be met
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Business Success Dependent on Stakeholder Influence