Page 18 - BUILDING BETTER BUSINESSES, FOR A BETTER ECONOMY -( David White - DRG )
P. 18
Stakeholders
Traditionally the two most important measures in a business were how our customers and our
shareholders felt about the organisation.
There are of course many more stakeholders in a business, namely:
The Bank
Revenue Services
Department of Labour
Department of Home Affairs
The Environment
Communities involved and affected
Customers
Shareholders
Suppliers
Staff
With Stakeholders we look at the “impact” we as business have on each of them. Take staffing as an
example — if we pay our staff correctly and on time, they gain a sense of comfort in their contribution
to the organisation and their personal financial management. The salaries they receive impact the lives
of their family members through having food on their table, sending children to school and college/
university, paying for utilities, purchasing a house, going on holiday, etc.
TO RECAP:
T he Entrepreneur is most effective when he or she recognises it is their responsibility to lead
the organisation and its people towards:
Meeting Organisational Objectives (Mission and Vision)
Ensure Organisational Sustainability
Meeting compliance, reporting and governance standards and requirements of the business
Build a strong functional support foundation – upon which a mature and engaged organisational
culture can be built
Meeting Stakeholder Expectations
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