Key Stakeholders

In: Business and Management

Submitted By bowersbee
Words 534
Pages 3
Competitive Strategies for Riordan Riordan Manufacturing and its parent company Riordan industries are both performing strongly and although there are some definite flaws apparent in human resources management at Riordan Manufacturing the company is still poised to take advantage of many different competitive strategies depending on a larger environmental assessment. Internally, a very healthy profit margin and growing sales numbers are generating substantial returns for the company, and the current ratio as well as the total asset to liabilities ratio are enormously high. This suggests some possible strategic moves for the company in the coming months and years. The new technologies that the company is adopting and the new equipment it is purchasing are estimated to generate long-term savings. Performance improvements also demonstrate part of the strategic course that Riordan might already be taking in order to position itself as a more competitive player in the market. First, the high current and total ratios suggest that the company is very under-leveraged. This could be a strategic position, but given the strong and growing sales record at the company and the enormity of the asset/liability divide. If the company could identify any growth opportunities in the market place, it may generate much better returns. Taking on debt to fuel growth would be an aggressive but likely a highly effective strategy for the company at the current time, generating even better returns for shareholders, and a greater market share and brand visibility for the company. Using debt to improve efficiency and reduce the cost of current operations over the long-term would also be advisable. Riordan Manufacturing appears to have already identified and has begun working toward efficiency with one goal. The company has some equipment and technology purchases in progress and some…...

Similar Documents

Stakeholder

...Part one A stakeholder is any individual or group who can affect or is affected by the actions, decisions, policies, practices, or goals of the organisation (Freeman 1984, 25). They have the interests in the activities of an organization and can be divided into internal and external stakeholders. In addition, there are different levels of stakeholders: primary and secondary. The level of stakeholders depends on the political, economic and social environment. Internal stakeholders are those from within the business, e.g. managers, employees and shareholders. In the Icelandic banks, the internal stakeholders are managers, staff and employees of the Icelandic bank, and there is no doubt that the owners are the most important stakeholders among all of them. The staff and employees get the paid from company directly and do service for them, that is why they are the internal stakeholders. The external stakeholders are such as suppliers, government, financiers which influence and are influenced by organization but are not its ‘internal part’ (business dictionary). The primary stakeholders are 300,000 British citizens and Icesave housing customers like David Pedrick and his wife, even though they just has a little interest in it,domestic creditors are also a part of external stakeholders. The secondary stakeholders are governments, the media, the pressure groups Liberty and the communities where organizations are nearby or located like Kaupthing Singer& Friendlander which is the......

Words: 893 - Pages: 4

Stakeholders

... Stakeholders Role Travis Green MGT 420 Managing Quality in the Supply Chain March 10, 2013 Stakeholders Role Stakeholders are the key assets in an organization because they can either affect or be affected by the way the organization operates. The level that each stakeholder is impacted varies from organizational layoffs to stock prices rising. Not all stakeholders are equal, and for this reason the level in which each stakeholder plays in the quality management process will vary, depending on the degree of involvement. The key relationships for an organization reach far beyond the relationships with its customer base to include relationships with its employees, as well as those with suppliers and partners, investors and even government regulators and other parties that may have any impact on the organizations climate or market that it operates in. A slight change in any of these relationships may cause an upset that can ripple throughout all the other relationships. Therefore, it is imperative for the organization to convince its investors to stay with the organization and keep their shares, employees to cooperate between each other, the organizations customers to purchase more products or services, and their suppliers to maintain a strong, reliable supply chain. Starbucks took to heart the concerns of it customers and shareholders regarding the presence of genetically modified material in their products. To set the customer and shareholders at ease, Starbucks......

Words: 551 - Pages: 3

Stakeholders

...Stakeholders Role Stakeholders are the key assets in an organization because they can either affect or be affected by the way the organization operates. The level that each stakeholder is impacted varies from organizational layoffs to stock prices rising. Not all stakeholders are equal, and for this reason the level in which each stakeholder plays in the quality management process will vary, depending on the degree of involvement. The key relationships for an organization reach far beyond the relationships with its customer base to include relationships with its employees, as well as those with suppliers and partners, investors and even government regulators and other parties that may have any impact on the organizations climate or market that it operates in. A slight change in any of these relationships may cause an upset that can ripple throughout all the other relationships. Therefore, it is imperative for the organization to convince its investors to stay with the organization and keep their shares, employees to cooperate between each other, the organizations customers to purchase more products or services, and their suppliers to maintain a strong, reliable supply chain. Starbucks took to heart the concerns of it customers and shareholders regarding the presence of genetically modified material in their products. To set the customer and shareholders at ease, Starbucks launched a line of baked goods made with organic ingredients along with offering certified......

Words: 534 - Pages: 3

Stakeholders

...Identifying and Managing Stakeholders Successful implementation of any organizations project depends mainly on involving the support of the stakeholders. Stakeholders are individuals (customer, patient, sponsors, vendors, and employees) or organizations that have a vested interest in the success of the business (Corporation for National and Community Service, n.d.). Without stakeholders support IT projects can run into many problems that can result in failure (eHealth Initiative (EHI), n.d.). When stakeholders are allowed to have input from the project start, then the project can be implemented more efficiently (EHI, n.d.). There are many different stakeholders with unique role that ensure the organizations project success (Wager, Lee, & Glaser, 2010). Stakeholders Before the initiation of any project, it is critical to identify those individual that will be most impacted by the project (Corporation for National and Community Service, n.d.). There are many stakeholders within a health care organization that must work towards one shared goal (Abbot, 2013). Key stakeholders in a health organization are consumers/patients, providers, clinical managers and senior leadership just to name a few (HRSA, n.d.). It is also important for each stakeholder to know their roles and responsibilities, how the system will affect them, and the benefit offered (HRSA, n.d.). Stakeholders Roles and Responsibilities The key stakeholders in a health care organizations information......

Words: 910 - Pages: 4

Stakeholder

...Stakeholders are people or groups of people who can be affected by, and therefore have an interest in, any action by an organization. The stakeholder concept is the view that businesses and their managers have responsibilities to a wide range of groups, not just shareholders. There are two different kinds of stakeholders; Internal & External Internal Stakeholders -These stakeholders are members of the organization: Employees Shareholders (who own the business) Managers and directors of a business External Stakeholders - These stakeholders do NOT form part of the organization but have a direct interest or involvement in the actions of the organization: Customers Suppliers Government Competitors Special interest groups Business decisions can have both negative and positive effects on stakeholders, but it is rare for all stakeholders to be either positively or negatively affected by any one-business activity. It is also possible for any one-stakeholder group to experience both negative and positive effects from the same business decision. This is why conflicts of interest between stakeholder groups with different objectives can arise. Unilever is the world's third largest consumer goods company. Its key stakeholders include: Customers Employees Suppliers Investors Government regulators Local communities Civil society organizations Academics and individual concerned citizens With some, such as our customers, employees, suppliers and......

Words: 316 - Pages: 2

Stakeholders

...In a business, there are many people and organizations are able to support and have responsibility to keep the business survive. Stakeholders are one of them. They are people who has an interest in the activities of a firm or business, however, they do not have to own any finance in that business. According to Marcousé (et al) stakeholder groups not only impact on but also be involved by the decision of the firm (2003: 489). This essay will briefly discussion the importance of stakeholders to the success of a particular business. In addition, it will include stakeholders' characteristic, a demonstration of how stakeholders display their role in business and the recognition of types of stakeholders. Stakeholders in many different businesses usually have similar roles, because all of them have an interest in the business or firm that they have chosen. This essay would focus stakeholders' function on soft drink manufacture. This chart below shows stakeholders' display in this business: [pic] (http://www.bized.co.uk/educators/level2/busactivity/activity/knowing11.htm, accessed 5/3/2009) These are the important elements which facilitate the process of produce soft drink. Government is indispensable for soft drink manufacture due to their economic policies and it concerns business's finance. It includes taxation and the interest rates. In addition, the government also supports this firm by assisting them of export there goods to......

Words: 1144 - Pages: 5

Stakeholder

...Cross-Cutting Tool Stakeholder Analysis October 2005 Resources for Implementing the WWF Standards Contents What Is Stakeholder Analysis?............................................................................................ 1 Why Stakeholder Analysis Is Important ............................................................................. 1 When to Use Stakeholder Analysis ..................................................................................... 1 How to Develop and Use Stakeholder Analysis................................................................. 2 1. Identifying the key stakeholders and their interests (positive or negative) in the project ..........2 2. Assessing the influence and importance of each stakeholder as well as the potential impact of the project upon each stakeholder .................................................................................................4 3. Identifying how best to engage stakeholders ...........................................................................4 General Lessons............................................................................................................................5 References............................................................................................................................. 6 This document is intended as a resource to support the implementation of the WWF Standards of Conservation Project and Programme Management. Stakeholder analysis......

Words: 2479 - Pages: 10

Stakeholders

...Definition of Stakeholders Stakeholders can be a person, group or organization that has interest or concern in an company/business.Stakeholders can affect or be affected by the company's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government owners, suppliers, unions, and the community from which the business draws its resources. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs. This negatively affects the community of workers in the area and therefore the local economy. Someone owning shares in a business such as Aldi are positively affected, for example, when the company releases new products and sees their profit and therefore stock price rise. Aldi Aldi are a German supermarket market chain. Aldi are famous for the quality and value of there products, and from the number of awards they have won, it seems the public agree, They have won the prestigious Grocer of the Year 2013 Award, won a total of eight gold and ten silver award wins at the Grocer Own Label Awards 2014 and eleven awards at the International Spirits Challenge 2014, including a gold award for our Oliver Cromwell London Dry Gin. Aldi use a lot of different types of stakeholders, I am going to talk about those. Customers Customers is......

Words: 1412 - Pages: 6

The Stakeholders

...TASK 2 Stakeholders To comprehend who your organization's stakeholders are, partition individuals influenced by your organization into three gatherings: inward, outside and joined stakeholders. Inward stakeholders are the individuals who own or work at the organization, including accomplices, board parts and workers. Outer stakeholders are those influenced by the execution of a business, including the nearby city government, group occupants, not-for-profits a business backer or gives to and the exchange media. Associated stakeholders incorporate shareholders, merchants, suppliers, retailers, foremen, clients, wholesalers, deals reps and wholesalers. Internal Stakeholders The execution of a business straightforwardly influences the wallets of inside stakeholders, and administration must consider the budgetary impacts of its exercises on this gathering. Poor choices harm benefit, which decreases a holder's advantage, workers' chances for raises, rewards and expanded assets, board parts' risk and accomplices' workloads. A manager must consider the response of his staff before he expands working hours, passes the work of an ended representative onto remaining staff, lessens profits, finishes working from home or takes different activities that change his staff's circumstance. Board parts give administration expansive objectives and systems and oblige the organization's authority to run key choices by them, including those concerning money related objectives, brand......

Words: 1921 - Pages: 8

Stakeholders

...World Market Strategies for Drugs to Fight Aids Jérôme Dumoulin, Yves-Antoine Flori, Philippe Vinard, Thomas Borel Key words: AIDS; drugs; price; developing countries. Abstract Faced with a situation where the market is unstable and the political context is crucial, we propose a three-part analysis. In the first part, an overview of the chronology of the main events shows that the evolution of the price of ARVs is interlinked with numerous issues of pharmaceutical patent rights. In the second part, we analyse the positions of stakeholders: how they behave in the market and influence market regulations. In the third part, we propose three scenarios which are both simplified interpretations of stakeholders’ strategies and options for the future. The first scenario is the status quo, where prices are high. The second scenario is driven by multinational companies who work to enlarge the markets by price differentiation and product diversification. The third scenario is driven by International Organisations which achieve a political consensus to enlarge access to ARV drugs through broader international financing and a systematic opening of the market to generics. Résumé Face à une situation de marché instable où le contexte politique est primordial, nous proposons une analyse en trois parties. Dans la première partie une esquisse de la chronologie des événements montre que l’évolution des prix des 214 Economics of A I DS and Access to H I V/A I DS Care… ARV......

Words: 12551 - Pages: 51

Stakeholders

...EXPLORING BUSINESS ACTIVITY - P2 The Influence of Stakeholders Stakeholders can be anyone who has an interest in a business. There are a number of different types of stakeholders. In the following table below, I will be discussing each of the stakeholders and their influences. Stakeholder | Tesco | Cancer Research UK | Customers | Customers of Tesco are people who shop in the business, whether it is in stores or online. They are the ones putting money in the business which emphasises their status as key stakeholders. The customers want high quality products for reasonable prices and they like to see offers and deals which helps create better value for money. | The customers of Cancer Research UK are either those affected by Cancer or those who donate money to the charity. Those who donate expect their money to be put to good use. These are known as stakeholders because they contain a big proportion of the charity’s donations. This means they expect the charity to provide the best treatment and care possible for those suffering from the disease. | Employees | These are the people who work for Tesco. They are known as stakeholders because they rely on the business doing well in order to secure their employment. These employees often look to gain promotions by taking the best opportunities available. Also, these employees may feel privileged that they represent Tesco. | Many of the people working for Cancer Research UK are volunteers. They are offering their free time...

Words: 3020 - Pages: 13

Stakeholders

...Stakeholders Suggestions List of Stakeholders. Vendors Doctors and colleagues Specialists Payers Administrative Lab Referrals doctors Practice management systems Electronic health records make it practical to have real-world solutions to solve the business problem of sending electronica reports between hath care facilities and labs. Claims can also be transmitted electronically to the payers that need to pay instantly to the doctors. Electronic fund transfers from insurance companies to the doctor can happen within 24 hours of see into patient. Stakeholders in this endeavor are going to range from the patient all the way down to everyone and anyone that will come in contact with the electronic medical and health records. All the stakeholders can breath a sigh of relieve to know that many processes in order to see patients can be streamlined with technology. Time management and time saving areas for the electronica health record are invaluable. One goal for many of the stakeholders is to automate the system of charting. Charting can be automated. Examples of areas of automation: * Peril operative notes * Flow sheets * Consent forms * Discharge summaries * Physicians nurse and other clinical notes * Transcripts medical abstracts * Advance directives or living wills * Utilizations management * Chart deficiency tracking * Staff creditionaling * Medical records/ chart tracking * Release of information Mobil......

Words: 460 - Pages: 2

Influencing Key Stakeholders

...Influencing Key Stakeholders Andrew Demers MGT-665-0663 June 8, 2015 This essay will discuss efforts to influence two key stakeholders at Pyro Presentations. This business is a family owned, and operated fireworks display company based in Oregon. Due to a large number of senior staff members retiring and business expansion, it became prudent to promote junior staff members as well as develop new positions to be filled. This paper will propose a strategy to influence the key stakeholders following the Cohen-Bradford Model of Influence without Authority. Briefly describe a change effort that could be instituted at this organization. This may be an actual change effort that has previously occurred, one that is currently ongoing, or a fictitious one that you believe is appropriate for the organization. Besides the manager and assistance manager positions at Pyro Presentations, there are two general types of employees: the senior staff members and the junior staff members. The power structure hinged on this division of workers. This dichotomy in power worked for many years until the senior staff began retiring. The issue soon became apparent, that with all those once in power retiring, a new power base needed to be formally established amongst the junior staff. Clarifying goals and priorities is the second step in the influence model. The purpose, in this case, is promoting junior staff members and creating new positions to support the expanding business. Identify......

Words: 1070 - Pages: 5

Stakeholder

...Stakeholders, Shareholders and Wealth Maximization V. Sivarama Krishnan, University of Central Oklahoma ABSTRACT This paper attempts reconciliation between the two somewhat extreme views espoused by the shareholder wealth maximization paradigm and the stakeholder theory. The stakeholder theory challenges the basic premise built into corporate finance theory, teaching and practice. Corporate finance theory, teaching and the typically recommended practice are all built on the premise that the primary goal of a corporation should be shareholder wealth value maximization. Extant theoretical and empirical research in financial economics also generally accept shareholder wealth maximization as the normative and ideal goal on which all business decisions should be based. This paradigm assumes that there are no externalities and all the participants engaged in transactions with the firm are voluntary players competing in free, fair and competitive markets. A very different view is offered by what is loosely called stakeholder theory. The stakeholder theory posits that the focus on shareholders and firm value is misplaced and managers should be concerned with all stakeholders of the firm. The paper attempts to address what is felt as a lack of dialogue between the two camps. INTRODUCTION Corporate finance theory, teaching and the typically recommended practice at least in the US are all built on the premise that the primary goal of a corporation should be the......

Words: 4065 - Pages: 17

Stakeholders

...Research Paper DOES CORPORATE RESPONSIBILITY TO STAKEHOLDERS MAXIMIZE FIRM’S VALUE? DOES CORPORATE RESPONSIBILITY TO STAKEHOLDERS MAXIMIZE FIRM’S VALUE? Topic: This paper seeks to explore the economic mechanisms behind corporate responsibility based on a microeconomic perspective of the firm. The ultimate objective is to ruminate on the effects of corporate responsibility of firms to stakeholders. That is how corporate responsibility to stakeholders can help maximize or minimize the firm’s value. In this research paper, I am going to explain the principle of stakeholder and the corporate social Responsibility that corporation owes to its stakeholders. The fact that corporations are entitled to its stakeholders and the environment within its scope of business has been a controversial issue. At the beginning, I will give a clear understanding of what Corporate Responsibility by firms to its stakeholders is. Later, I will make an argument in favor and against Corporate Responsibility by the firm to its stakeholders. Lastly, I will come to a conclusion on how firm’s value is maximized. That is what corporation should do for its stakeholder. According to rigorous research, each person has his or her personal responsibility that needs to be performed in order to maintain a good image in the society. Just as humans are faced with responsibilities, so as Corporations, since they are seen as a group of individuals working together to accomplish a goal, that goal being making...

Words: 1817 - Pages: 8