Defining Stakeholders and their responsibilities

Defining Stakeholders and their responsibilitiesStakeholder is a person,group, or organisation that has direct or indirectstake,that is Support, in an organisation. Thay be called Stakeholders because they can affect or also be affected by the organisationsactions,policies, andobjectives. Key stakeholders in abusinessorganization be admitCreditors,Customers,Directors,Employees, disposal(as easy as their agencies),Owners( that is Shareholdes) , Suppliers,Unions, and the associationfrom which the business draws itsresources. Although stake-holding is usually self-legitimizing (those whojudgethemselves to be stakeholders arede factoso), all stakeholders are not equal and different stakeholders areentitledto differentconsiderations. For example, afirmscustomers are entitled to fairtradingpracticesbut they are not entitled to the very(prenominal) consideration as the firms employees.In short,Stakeholders are groups of people who pass on an enliven in a business organisation.Type of Stakeholders http//www.answers.com/topic/stakeholder-corporateStakeholders 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 comp whatever 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.Q.)Who are the stakeholders of COCA COLA Company ?All most all the businesses father to keep in mind the effect of their activities on stakeholders. coca-Cola 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 Consumers/Customers, Suppliers, Manager, Owner(shareholders),Employees, Government regul ators, Speial interest Groups, Non-Govermental Organizations (i.e. NGOs) as well as the local communities/society 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.Consumer/CustomersConsumers are the external stakeholders. In Coca Cola Company, Consumers are disposed very much importance because they have a very much influence on business strategy because, wherever possible, consumers want to procure products from those companies on which they trust. So Consumers are very much powerful. Because all business is after all depends upon a customers. If in that respect will be no customers, there will be no business at all.SuppliersSuppliers and business partners are vital to Coca Cola Companys success. Because they help them refresh the world, more than 1.6 billion gene ration 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 footstep 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 powerful.Government agencies and civil societyCoca Cola Company made wide-ranging constancy commitments. Such as the Action on Diet, Health and Physical Activity. They are a member of the differentUnion of European Beverages Associations, which the EU programme 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 implementsports and fitness programmesNational Environment Ministries toprotect watershedsIndustry and Government Agencies to build sustainablepack aging management schemes and promote recyclingSo presidency is also influential at a a greater level.CreditorsCreditors are the external stakeholder of the Coca Cola Company. The Coca Cola Company participate ininvestor assessmentsand conduct briefings specifically for the socially responsible investment community. They routinely include sustainability performance in their all annual financial report and investor road shows. So creditors are also influential at a certain level.EmployeesEmployees are not undecomposed internal stakeholders, they might be also external stakeholders. Because when any employee purchase an item from the sameCompany in which they are employed they become external stakeholder. So just care other companies in Coca Cola Company also Employees are very much influential. So Coca Cola Company conducteda survey about the key measures of employees engagement. In 2007 Coca Cola Company won several awards, which includes Best employer awards in Serbia and Poland. Second place in theGreat Place to Worksurvey in Italy.Owners (Shareholders)Owners are the internal stakeholders of the Coca Cola Company. They are the Primary stakeholders.In Coca Cola Company Stockholders have an immediate stake in a flowerpot because it is all about their money that is funding the company. If Coca Cola Company does well, their stock gains value and ultimately they earn more and more money. If thebusinessdoes badly, hardly they lose money. So shareholders are very very much influential in Coca Cola Company.Non-Govermental Organizations (NGOS)The Coca Cola Company always assert on NGOs and public-private partnerships to inform and guide their policies and initiatives, as well as challenge them as they work on complex and fast-changing issues such as climate trade and others.Some of Coca Colas key stakeholders and partners includes the followingWorld Resources InstituteWorld Wildlife FundCarbon TrustCarbon Disclosure ProjectThe NGOs also influential in Coca Cola Company.Stakeholders of Cancer seek UK.Q.)Who are the stakeholders of Cancer Research UK ?Cancer Research UK is a non profit organization. But that doesnt mean that it doesnt have stakeholders. There are stakeholders just like other organization. Some examples of Stakeholders for a Non Profit Organization like Cancer Reseach UK are given here Director, Trustees , Donors, Employees, Government, Patients, Doctors and Nurses, Fundraisers,Volunteer,Corporate partners like Tesco and BQ.DirectorThe Director is a person who board typically chooses to have this one person who is ultimately responsible to carry out the overall wishes of the board. The coach is always directly accountable for the work of the staff and supports the work of the board committees.So director is a key stakeholder for Cancer research UK. So he is very much influential stakeholder.Board of TrusteesTrustees are always much influential for any non profit organization. Cancer research UK also have a Bord of Trustees . They have to perform some duties likeCarry out the terms of the trust instrumentDefend the trustProper investment of trust assets e.t.c.So Board of Directors of Cancer Research UK are very much influential.EmployeesEmployees are always influential for any organization, wether it is profitable or non profitable organization. So just like others here in Cancer Research UK, employees are very much influential.VolunteersIn Cancer Research UK, volunteer are the most influential stakeholder as they are provide their help and time free of cost. Cancer research UK might cant operate without the help of the service of the Volunteers. So because of the given reason, they are very much influential in cancer Research UK.DonorsDonors are the person who gives monetary and non monetary help to the organizations. In Cancer Research UK, Donors play an important role as they are the distinct from others as they give their support to an organization from which they know, they will not getting any m onetary refund. So donors are influential in Cancer Research UK.