Stakeholder Impact on Business Growth
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Stakeholder Impact on Business Growth
Stakeholders are individuals or groups that have an interest or concern in the success and growth of a business. They can include shareholders, customers, employees, suppliers, and the community at large. The impact of stakeholders on business growth can be both positive and negative, and it is important for businesses to identify and manage these impacts effectively.
Positive impacts of stakeholders on business growth include:
Shareholders: Shareholders provide capital to a business, which can be used to fund growth initiatives such as expansion, research and development, and marketing. They also provide a source of financial support, which can help the business to survive during difficult times.
Customers: Customers are the lifeblood of any business, and their satisfaction is crucial to the growth of the company. They provide revenue through the purchase of goods and services, and their loyalty can lead to repeat business and positive word-of-mouth advertising.
Employees: Employees are the backbone of any business, and their contributions are vital to the success of the company. They can help to improve efficiency and productivity, which can lead to increased growth. They also can act as brand ambassadors, and positive employee morale can lead to positive customer experiences.
Suppliers: Suppliers provide the materials, goods, and services that are necessary for a business to operate. A good relationship with suppliers can lead to cost savings and improved quality, which can help to drive business growth.
Negative impacts of stakeholders on business growth include:
Shareholders: Shareholders can also be a source of negative impact on business growth if they are not satisfied with the performance of the company. They may demand changes in management or divest their shares, which can lead to a loss of capital and a decrease in investor confidence.
Customers: Unhappy customers can lead to a loss of revenue and negative word-of-mouth advertising, which can harm the reputation of the business and make it more difficult to attract new customers.
Employees: Poor employee morale can lead to low productivity and high turnover, which can be costly for a business. Negative employee behavior can also harm the reputation of the company.
Suppliers: Poor relationships with suppliers can lead to delayed deliveries and increased costs, which can harm the growth of the business.
In order to manage the impact of stakeholders on business growth, it is important for businesses to identify and understand the needs and concerns of each group. This can be done through communication, engagement, and feedback. It is also important for businesses to be transparent and accountable, and to act in an ethical and responsible manner. This can help to build trust and credibility with stakeholders, which can lead to positive impacts on business growth.
In conclusion, stakeholders play a crucial role in the growth and success of a business. A strong relationship with shareholders, customers, employees, suppliers, and community can lead to positive impacts on business growth. However, it’s also important to be aware of the negative impacts that stakeholders can have on business growth, and to manage these impacts effectively through communication, engagement, and transparency. It is a continuous process that requires a balance of interests and a well-planned strategy.
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.
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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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Stakeholder Impact on Business Growth