Defining Stakeholders and their responsibilities

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Defining Stakeholders and their responsibilities

Stakeholder is a person group or organisation that has direct or indirect stake that is Support in an organisation Thay are called Stakeholders because they can affect or also be affected by the organisations actions policies and objectives Key stakeholders in a business organization are

include Creditors Customers Directors Employees Government as well as their agencies Owners that is Shareholdes Suppliers Unions and the Community from which the business draws its resources Although stakeholding is usually selflegitimizing those who judge themselves to be stakeholders are de facto so all stakeholders are not equal and different stakeholders are entitled to different considerations For example a firms customers are entitled to fair trading practices but they are not entitled to the same consideration as the firms employees

In short

Stakeholders are groups of people who have an interest in a business organisation

Type of Stakeholders

httpwwwanswerscomtopicstakeholdercorporate

Stakeholders can be devided in two different groups as shown above that is internal as well as external It also can be called as Primary Stakeholders and Secondary Stakeholders Not only that but some stakeholders are those who might be both that is interal as well as external

For example company employee is by default internal stakeholder But at the same time when he become the same companies customer he become the external stakeholder

Stakeholders of COCA COLA company

QWho are the stakeholders of COCA COLA Company

All most all the businesses have to keep in mind the effect of their activities on stakeholders CocaCola is also not an exception There are so many stakeholders in Coca Cola Company They include all those stakeholders who are most affected by or who most affect the way they do business This includes ConsumersCustomers Suppliers Manager OwnershareholdersEmployees Government regulators Speial interest Groups NonGovermental Organizations ie NGOs as well as the local communitiessociety in which Coca Cola Company operate

Each and every Stakeholder has its own interests in Coca Cola Company and places different demands on them The Company try to engage with each constituency according to its needs using different engagement methods as appropriate

ConsumerCustomers

Consumers are the external stakeholders In Coca Cola Company Consumers are given very much importance because they have a very much influence on business strategy because wherever possible consumers want to buy products from those companies on which they trust So Consumers are very much influential Because all business is after all depends upon a customers If there will be no customers there will be no business at all

Suppliers

Suppliers and business partners are vital to Coca Cola Companys success Because they help them refresh the world more than 16 billion times every day through delivering necessary products and services for their business Having a sound stable and ethical supply base is important for growth of the Coca Cola Company and the footprint that the suppliers leave in local communities around the world As a company they have a responsibility to hold their direct suppliers to standards no less than those required by applicable law So suppliers are also very much influential

Government agencies and civil society

Coca Cola Company made wideranging industry commitments Such as the Action on Diet Health and Physical Activity They are a member of the different Union of European Beverages Associations which the EU Platform acknowledged as an example of best practice on how to develop and follow up the commitments made

Coca Cola also work with

National Government Agencies to implement sports and fitness programmes

National Environment Ministries to protect watersheds

Industry and Government Agencies to build sustainable packaging management schemes and promote recycling

So government is also influential at a a

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