The modern economy needs radical modernization and strengthening its competitiveness. This measure is aimed at the technological breakthrough of Russia into the global economy. Institutional, financial, managerial, technological spheres of activity of enterprises and industries are subject to modernization, reflecting the interests of the company's stakeholders.
Who are the stakeholders
Briefly and succinctly, a stakeholder is a group, organization or person, which can be influenced by a certain company, dependent on them.
Two large segments are distinguished: primary and secondary. The primary stakeholder is the immediate circle that has a direct impact on the business:
• owners, investors, shareholders, customers and employees of the company;
• business partners.
A secondary stakeholder is a distant circle that has an implicit impact on business:
• representatives of local and state authorities;
• competitors;
• Mass media, public and charitable organizations, activists, on whose opinion the people rely.
The main stakeholders can be represented by the local authorities of a particular region, on which the direction and development of the business depends. The most successful companies consider relationships not only within the firm, but also widely outside of it. Given the interests of customers, shareholders, employees and officials, businessmen are more successful in developing their business. Not all stakeholder relationships are financial in nature.
Internal stakeholders are represented by top managers, employees, the board of directors, owners, investors and shareholders. Their interests often do not coincide. Management longs for freedom; shareholders crave more control. Employees want to increase wages, management - to reduce costs. To resolve such disagreements, a system of incentives and motivations is being introduced. So, the development goals of the company become common.
Shareholders and investors
The shareholders bought out the shares of the company, invested their funds in its development and expect to receive financial profit. They are also interested in the growth of annual dividends and the growth in the market value of the company's securities. After all, if the shares were purchased at a speculative rate, the shareholder expects an increase in the value of the shares, which means that it is possible to earn more on resale.
The role of stakeholders who have funded the company with their own funds is unambiguous. Investors are interested in a quick payback of the business and constant growth. They risk their investments, so they are interested in stabilizing the investment portfolio.
Top management and employees
The company's management is interested in the stability of the company and the implementation of monthly and quarterly development plans. It is this factor that determines the size of the bonus bonus. The manager also seeks freedom of action and is very interested in his area of responsibility.
Employees of the company expect management to pay salaries on time and to have premium, social and insurance guarantees. Each employee is endowed with a special level of responsibility and authority within the framework of a narrow specialization.
Consumers, dealers and partners
An important role is played by the ultimate stakeholder. This is a consumer. This group uses products manufactured by the company. This segment quite extensive, as it may include both manufacturing companies and individuals using the company's products. The consumer expects from the company a quality product at an affordable price and performance warranty obligations.
Company dealers and partners sell and deliver company products to their counterparties. They are interested in the stability of the company, in the quality of goods and after-sales service.
Suppliers and financial corporations
Suppliers of raw materials and products are interested in the company constantly making purchases from them, paying for contracts. Each supplier hopes for the growth and development of the company in order to conclude more profitable transactions and increase supply.
Financial institutions are interested in the stable operation of the company. If the bank issued a loan to the company, it is also interested in timely monthly payments under the loan agreement.
Power structures and public groups
The activity of stakeholders, representatives of local authorities consists in waiting for the company to replenish the city budget with tax revenues, providing the local population with new jobs and legal and transparent management of the economy.
Community groups of the local population can be represented by both political parties and charitable organizations. These stakeholders want the company to accept their opinion. For example, environmental centers may oblige a company to eliminate emission sources. Or the patient care fund may apply for funding for the operation.
All types of stakeholders, one way or another, are able to influence the dynamics of business development. Nowadays, many companies are faced with a paradox where the public is replaced by groups of individuals, representing a narrow target audience. The company's problem is to make out in the mass of groupings of precisely its potential customers. That means accurately segmenting the portrait of the target audience. Having correctly highlighted the interests of stakeholders, the company's business growth is ensured.
