Stakeholders are people or group of people who have an interest in the business. They can also influence the business in some way. Because Lex Transfleet is a PLC (Public Limited company) so it is owned by shareholders and run by director. Here are the Stakeholders for Lex Transfleet and internal stakeholders are people who work for the business and external stakeholders for not work for the business. Shareholders – Internal stakeholders and they are the owners of Lex Transfleet because they invest money into the business and also be interested in the profits.
Directors – They are also internal as they work for the business and they control and run the business by making the major decisions for the business. Directors also have a lot of responsibility and have a very skilled job and expect a high salary. Employees – They are internal as they work for the business. They are also internal stakeholders as they carry out the activities of the business. Employees will also know their job is secure if Lex makes profit. Customers – They don't work for the business so they are external they are external stakeholders of the business and they buy the goods and services from Lex Transfleet.
Customers also want to know if their rights are being met so they are not being sold things which are not exactly what they want. The government – They make they laws and are external stakeholders. Lex Transfleet has to follow these laws and regulations. The government makes lots of laws e. g. health and safety law and employee rights and consumer rights. The local community – They live near the business and they are external stakeholders of the business. The local community want to know if there are any jobs available so they can work near to where they live instead of working somewhere far.
Suppliers – They are organisations that supply goods and services to Lex Transfleet e. g. truck parts, stationary computers and lots more to run the business. A2 – Interest of Stakeholders Shareholders – Shareholders are the owners of the business and so they put the capital in for the business. This means that they are interested in how well Lex Transfleet is doing; also they are interested in profit. They want to get dividend back and more profit the business makes the more money. They are also interested in the share price for Lex Transfleet as they can sell the shares and make money.
They are also interest in Lex acting in a socially correct way so that Lex gets good publicity and reputation as bad reputation can make sales fail. Directors – They make the decisions for the company and so they wok for the business. They are interested in getting paid and being able to make decisions for Lex Transfleet. They are also interested in getting paid bonuses if the business performs well. They are interested in their job security at Lex Transfleet. If the business performs well, the more the business makes the more bonuses they will get.
They want to be paid good salaries as they have a difficult job and are interested in "perks" of the job e. g. company care etc… Employees – They are interested getting paid and getting paid the right wage and fair wage for the job they are doing in the business. They are also interested in making sure that their rights are being mat by the business. They are interested in the following at Lex Transfleet: Getting paid, good working conditions, holidays, their rights being met, health and safety at work, room for promotion
They also interested in how well Lex is doing so that they know that their jobs are secure. Finally they want to be respected and treated equally; they will work harder so they are more motivated and feel part of the business. Customers- They expect a lot of good service and value of the products they want friendly and good customer service. A discount made from some of the products which they are buying and a wide rang of appropriate delivery services. The customers at Lex Transfleet, which include the government, are interested in the following things:
– Quality of goods and services, good customer services, value for money, additional benefits, they want good quality truck rental service. The government – They expect Lex Transfleet to follow their laws also make sure that they have the right laws for their employees and customers. They are also interested to get more people employed into the business so they don't have to give out benefits for those who don't work and there will be more money for things like schools. They are interested in how much profit is Lex making as they want tax in the profit.
The local community – They expect a wide range of good jobs vacant which should be available for the ones who want to work and also do not want unlawful activities going on. The local community also want a good service by the business. Suppliers – The suppliers are interested in large contracts with Lex Transfleet they need to know about Lex profits so that they know that the suppliers will know Lex can pay them back after purchasing the suppliers products. A3 – The extent of influence each stakeholder has on Lex Transfleet
If the owners and shareholders both put money into the business they would have more money and the business will not be going in loss because there is a lot of capital coming into Lex Transfleet. If a share holder sells his shares then there will be bad publicity for Lex Transfleet. Directors -The directors have a lot of influence, they make major decisions for the business so that in future there is no problems with how the business is working and if the employees and the employers are happy.
Employees – The employees have quiet a lot of influence if the employees give bad customer service then there will be fewer customers doing business with Lex Transfleet and then Lex Transfleet will be going in a lot of loss if there loosing customers. Trade unions can influence decisions by negotiating and having strikes. Employees can have a lot of influence on working decisions if they go on strikes. Customers – Customers have a lot of influence they are Interested in competitions because they want to know how prices can compare between the truck companies.
I think they can have a lot of influence if there is less competition but they have very little influence if there a lot of competitions. The government – The government have a lot of influence If they don't follow laws they can get fined and taken to court an also they have to pay taxes if they don't pay the government can take them to court The local community – The local community have a little influence… Pressure groups, local MP etc. they influence the decisions of the business, there living near the business they want to know what the business is doing and they got jobs vacant.