Answer to Question #235842 in Management for Kamogelo Moloko

Question

With suitable examples, identify five important stakeholders of The Beans Company.

Answer 1

Consumers, distributors, creditors, the general public, the community, and the government are the five most significant stakeholders in the Beans Business. Consumers expect the company to generate more excellent consumer goods at reasonable prices. Shareholders are interested in company transactions because they rely on the company to be lucrative and provide a return on its investment. Creditors who offer investment resources, raw materials, and assistance to the business expect payment on time and in full. Companies must flourish for governmental, state, and local municipalities to collect taxes that fund government service providers such as learning, law enforcement, and fire departments. The local community is interested in the company because it generates employment, which promotes economic activity in the area. The general public is worried about the environmental effect of corporate activities in terms of noise, air, and water contamination. In addition, the community has a responsibility in the business to protect the products and services generated by the firm. Suppliers rely on firms to keep buying their goods to preserve their competitiveness and long-term economic wellbeing.