Stakeholders
Owners: The owners of lanchester dairies are Bill and Geoff Austin, they founded the company in the early 1900’s with their wives. The owners of Lanchester dairies have the most influence on the business as they decide what the business is, how it is going to operate and who is going to be employed. The owners have the most influence for a company and the most power as they are at the top of the hierarchy.
Managers: Managers are concerned about their salary. Their main concern is to be in charge of staff and to make sure everything is running smoothly. Managers may clash with employees because the manager will want all of the employees to work to the best of their ability however some employees will only be content with doing the bare minimum.
Workers: Most workers will work for a certain company because of their wage, finding work can be very hard so most of them would also like to keep their job. The workers may not be concerned about the company itself, more of the wage that they earn and their current job role.
Customers: Customers want the business to produce high quality products or services to their satisfaction, if the business does this then customers will return to them to make more purchases, customers also want the business to maintain the high quality of goods that they produce with reasonable prices.
Suppliers: Suppliers want the business to buy their products, so the business can then sell them on to customers looking to buy goods. The suppliers will also be interested in the business and if they would like to keep working with them, through this a good relationship between the business and suppliers is created which can result in goods being sold for lower prices.
Lenders: Lenders want to be repaid on time and in full. They will be interested in the business being successful so the money that is owed is returned to them appropriately. Other business doing well also results in Lenders doing well. Trust needs to be made between lenders and the business so the lenders are sure that they will get their money back.
The Community: has a stake in the business as employers of local people. The business will have to please the local community to be successful and popular among them. The local community will then support the business, especially if it is a small town or village.
Cadbury’s
Owners: The owners of Cadbury’s would have an even bigger influence on the company because Cadbury’s is much larger therefore the owners have a bigger responsibility because they have to handle a business that is very large, when a business is very popular the customers will be used to the business producing certain products. For example Cadbury’s is known for selling chocolate. The owners will have a massive impact on a business’s aims and objectives the owner of the business can decide to change any objectives that were previously made however they usually do not this as the current objectives set will be suitable for the business. An example of an aim that could be changed would be survival, as a business grows they will remove this aim; when the business is larger they are no longer a threat to going into administration instead they can compete with larger businesses.
Managers: Cadbury’s will have a lot more managers than lanchester dairies because it is a much larger business and the factory will have to process a lot of products at one time, The higher ranking managers at Cadbury’s will have a considerably higher salary than a manager at Lanchester dairies. Managers will not have much influence on a business’s aims and objectives because they are not in a suitable position in the hierarchy to take action. They are not high enough to create or change aims and objectives or low enough to go on strike as they have an important job role. However the managers may refer to the aims and objectives to the owners considering a change, but they do not have overall control over influencing them.
Workers: As well as Cadbury’s employing a lot more workers for different job roles the salary will vary from high to low. Some workers may want a better working environment, for example the workers may think that a bigger company should think more of its workers if it has the money to. Workers can influence a business’s aims and objectives for example they can go on strike to protest against an issue with their employer and to spread the message to the public. Doing this however may not have the most influence on the business as the workers may be sacked if they strike for a long period of time.
Customers: Customers are different for Cadbury’s because Cadbury’s itself is a factory that produces products, customers will not go to the business to buy them for example a customer would go to Apple to buy an iPhone or an iPad. Customers can also influence a business’s aims and objectives for example if a business wanted to increase the amount of customers they have or the types of customers they have, they could shop elsewhere which would decrease the amount of customers that the business gets. Cadbury’s and Lanchester Dairies will have to satisfy the customers that they have however most of Lanchester Dairies customers will not ask for milk elsewhere because there are only a few companies that produce milk in the North East.
Suppliers: Cadbury’s would need suppliers to supply the raw materials that they need to make all of their products, everything else would be processed in the factory. Some of the raw materials would include the cocoa beans. Suppliers can also influence the businesses aims and objectives, one way in which they can do this is by decreasing or increasing the prices for goods that are sold to the business depending on the relationship formed between the suppliers and the business. If the suppliers increase the price of products the business will buy less which means they might have to increase the price of the products, when they are sold to customers therefore less people will purchasing them which could lead to less profit being made by the business.
Lenders: would aim to get the money they lent out back. Cadbury’s would probably make a big profit on the amount of money that was borrowed by charging interest. The more time lenders leave to pay back the full amount the more interest and even more money will be charged for the final amount. Lenders cannot directly influence a business’s aims and objectives on a large scale however if a business has borrowed money for a long time a larger fee will be paid due to interest rates. Which could affect the amount of money a business has to spend.