A are making as it will give them an

A stakeholder is anyone (person, business, social group or a society) that has an interest/stake in a business, they can be affected by activities the business undertakes. Stakeholders consist of; owners/shareholders, these stakeholders are most interested of the profits the business are making as it will give them an insight on the dividend they will receive, there are also managers who are most importantly concerned about their salaries and any long term benefits they will receive for staying loyal within the business, employees are also stakeholders and they are mostly concerned about job security as they want to be financially stable earning high wages.  Customers are also a vital stakeholder to the majority of businesses, customers are most concerned about buying good quality products at reasonable prices. There are 3 more somewhat important stakeholders for most businesses and these are; suppliers, local community and the government. Suppliers are mostly interested in businesses continuing to purchase their supplies which gives them a sense of security signing long term deals with businesses. The local community have a stake in businesses because businesses tend to employ locals from the area, most business activities also can affect the local environment as well as the community. Finally the government are also a stakeholder in all businesses as they want businesses to do well and thrive as they are happy to collect tax from any operating business. All business have stakeholders, internal and external. Internal stakeholders refer the individuals within the business and external stakeholders refer to outside parties. (Bitesize, 2017) (Chron, 2017)Employees within any business have many aspirations, one of these would be that since the managers of the business will set out the overall strategic directions for the business it is the employees who are generally closest to the action. They are the ones who have to interact with customers on a day-to-day basis, in a manufacturing working environment they will be directly working on the businesses products. For most businesses their success depends on the dedication and work ethic of their employees, if the employees were not to work up to par it wouldn’t allow the business as a whole to reach their profit and revenue goals for the year.  Another aspiration for an employee to have as a stakeholder would be job security, this is because if a business was too continually make risky business decisions this could have an effect on the bottom line of the business, including employees. This could be putting employees’ job security at risk. Due to this an employee may see fit to take interest in decisions being made in the business and if they do not believe the right decisions is being made and they job may be at risk they may decide to leave and find work elsewhere. Employees will need a sense of job security in the long run to allow them to have the stability to thrive in the business. Employees are also concerned about pay, since employees are affected as stakeholders in terms of their economic wellbeing. Employees are concerned on how often they’re being paid as well as how much. The decisions being made by management could affect the pay of their employees. If a business owner decided to implement features to an employees pay such as benefits or a signing on bonus it will affect all employees in the business. To conclude, it is evident that employees are seen as one of the most important stakeholders within a business because they are the main working force of the business, they are most generally concerned about how safe their job is, as well as the morale of the workplace and how they will be getting paid.

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