Every organization has stakeholders

• The text defines stakeholders as: “Individuals and organizations who are actively involved in the organization or whose interests may be positively or negatively affected as a result of what the organization does.” Every organization has stakeholders. Choose one of the companies below and identify three key stakeholders. Then discuss how the company caters for their interests and what may happen if their expectations are not met.
  • A water utility company
  • A multinational food company
  • A local airport
• Choose one of the companies below and identify three key stakeholders. 

A multinational food company usually have several key stakeholders addressed the mission and vision of the company that is government, supplier, owner, competitor, customers, and social media. All these stakeholders need to be catered well.

• How the company caters for their interests?

So how do these stakeholders be catered well by the organization? Obviously, you have to know what are they are interested in and what they need the most. 

Government

The governments always need public reputation and taxes, so as a multinational food company they have to meet the public health regulations and different taxes laws around the world.

Suppliers

The suppliers from around the globe have different cultures and languages, values and product quality. As they all want the highest price from you can pay, the company must apply some management skills to reduce the cost.

Owner

The company owners might have their own tongue of taste. The managers should make sure their strategy have science rules and statistic data on the back.

Customers

Customers from different countries have variety tongue of taste and different moral like eat meats or not. Populations in developed countries tend to eat more healthy so there are many food administrations.

Social media

Social media can help food company to advertise their products effectively, but they also charge some money to run their business. To advertise the products honestly and morally can meet the social responsibility of social media and increase the hits of the products.

Competitor

According to "Game Theory" the competitor can also be a friend of business because, without the pricing war, they can be more profitable by working together.

• What may happen if their expectations are not met?

Government

As I said, the governments always need public reputation and taxes, so there can be lots of lawsuits facing if you don't meet their needs.

Suppliers

If you lose a supplier that is a high-quality producer, your products might lose its attraction and plump on sale.

Owner

The owners have the power which can affect the future of the company, so they have to be convinced when there are much more good strategies.

Customers

Obviously, a multinational food company has to meet the variety tongue of taste. You can imagine that if they don't want to buy your products to eat.