Objectives of different stakeholder groups
What are the objectives of different stakeholder groups in a business?
Different stakeholder groups have distinct objectives in relation to a business. Owners/shareholders seek a return on their investment and capital appreciation. Employees aim for job security, competitive wages, career growth, and a positive work environment. Customers desire quality products/services, value for money, and excellent customer service. Suppliers strive for reliable partnerships and prompt payments. The community expects responsible corporate citizenship and social contributions. Balancing these objectives is essential for long-term business success.
What are the typical objectives of employees as stakeholders in a business?
Employees as stakeholders in a business typically have objectives related to their employment experience, job satisfaction, career development, compensation and benefits, work-life balance, and job security. They may seek opportunities for growth, recognition, skill development, fair treatment, safe and healthy work environment, and a sense of purpose in their work. Employee objectives often align with the overall success and stability of the business as they contribute to its productivity and effectiveness.
What are the objectives of shareholders or owners of a business?
The objectives of shareholders or owners of a business typically revolve around maximizing returns on their investment, increasing the value of their ownership stake, and receiving dividends or capital appreciation. Shareholders often seek long-term profitability, market value growth, financial stability, and a satisfactory return on their investment in line with their risk tolerance. Their objectives may vary depending on their investment horizon, risk appetite, and overall investment strategy.
What objectives do customers and suppliers typically have as stakeholders in a business?
Customers typically seek quality products or services, competitive prices, convenience, and good customer service. Suppliers, on the other hand, often aim for timely payment, long-term partnerships, fair terms, and a stable demand for their products or services.