A stakeholder is an individual person or a group of people who have an interest in the success of a

business in delivering successful results and maintaining the activity of the businesses products and
services. There are internal and external stakeholders within every business. An internal stakeholder
is someone who is internally linked to the business that have personal interests which they may
pursue. An external stakeholder can be an individual or a group of people such as lenders, public,
customers, suppliers who are influenced by a business but are not internally in the business. There
are multiple different types of stakeholder which can be seen as;

Tesco

Customers

Tesco's have many stakeholders who influence the business and the way they perform. One of their
stakeholders are the customers, because they are the people who purchase Tesco's stock and allow
Tesco to make a profit from them. Tesco try to keep up with customers needs because this means
that customers will purchase from Tesco if they offer their preferences. Tesco's customers are
interested in buying quality goods from a large supermarket so they want to be ensured that the
products are fit for purpose and they are getting value for money. Tesco use market research in
order to get research about customer needs and presences to ensure they are constantly up to date
with the market trends and other competitors. The influence they have on Tesco is the customer
service they can give back to Tesco. The customers have the ability to offer their review and
feedback in order to help Tesco be the best they can be and find ways to improve specific areas
within the business. Also, customers can recommend the business to their associates and allow
Tesco to get a good reputation because of word of mouth. Therefore, the customers influence Tesco
majorly because they can help towards making the business the best it can be and allow it to get a
better reputation over its competitors.

Competitors

Tesco have a very high amount of competition in the supermarket industry, which means that they
are in a big competition with many other large supermarkets such as; Asda, M&S, Morrisons etc. By
having competitors, it will allow Tesco to strive to be the best by constantly offering good customer
service and trying different things in order to gain more customers and the better reputation. Tesco
can use their competitors as motivation in order to succeed because it will mean they may offer
different things to try and stand out. Tesco may change their prices in order to be different from
their competitors because prices is something supermarkets work on carefully.

Suppliers

Tesco's suppliers provide them with stock for their stores which is extremely essential, because
without the suppliers, Tesco would have anything to sell. Tesco ensure they have good quality
suppliers who are able to offer them better stock than their competitors. Suppliers help Tesco
because they provide them with the stock in order for their business to run and be successful,
although Tesco help the suppliers because they provide them with a lot of money because they have
large bulk orders at a time. The suppliers will gain a good name for themselves because they supply
their goods to Tesco and Tesco is a successful high-street business therefore the suppliers will get
more business.

Managers

Tesco's managers are also stakeholders, because they manage the salaries along with the
performance of Tesco. The standards of the business need to be managed effectively all the time in
order to ensure Tesco runs successful. The managers supervise the staff and make sure the image of
the business is good by having good customer service and various other things. If they do not do
their job properly, then something could go wrong or not bring as much profit as needed and then
Tesco will not be run efficiently which is why the managers have a huge impact on Tesco.

Workers

The employees within Tesco really impact Tesco because they are essentially the 'faces of the
business' because they are representing Tesco when people come into the store. They have a huge
part in enticing customers to repeat purchase because if they are polite and helpful to customers
then customers will return and bring other customers however, if an employee is unhelpful and rude
to the customers they will not come back and will shop at one of Tesco's competitors. They also
have huge pressure in order for them to make the business successful because they are generating
the sales.

Shareholders

Tesco's shareholders have an interest to share prices to increase the profit each year and they want
to see how well the business is doing and the reputation of the business. The shareholders have an
influence on Tesco's because they can be interested in a good long-term return therefore they have
a positive influence because they could invest more money into Tesco which means Tesco will be
helped out and can use their money for other things.