Answer to Question #243349 in Management for Lee

Question

Identify any 5 stakeholders that and outdoor equipment store needs to consider when entering the global market.

Answer 1

Suppliers

An outdoor equipment store must consider availability of suppliers for the product they want stocked in their store. They must also consider the reliability of the suppliers.

Customers

They must also consider the availability of customers for their services and product. Is there a wide range of market for the their product and services, what do the customers need, what is their taste,what is their preferences.

Government agencies

They must also consider the laws and regulations provided by government agencies e.g concerning license of operations, payment of tax, Environmental conservation policies.

Employees

Is there availability of qualified personnel to work in the the store,what are the demands of the employees ,what level of skills do they have concerning the job ,are some of the basic questions an outdoor equipment store should consider when hiring employees.

Media

Advertisement and product promotion is very important in boosting sales and building reputation of the firm. An outdoor equipment store should consider availability of advertising and promotion agencies that would help in creating awareness about their products and services to the customers in the global market.