Stakeholders Of Cruise Company List of stakeholders v

Stakeholders Of Cruise Company

List of stakeholders v Employees v. Competitors v. Customers v. Suppliers

Power interest grid Power Employees Competitors Employees (managers) Suppliers Customers Interest

Employee analysis v Employees are relevant as they carry out the tasks that make the business plausible. They have financial and emotional interest. v Employees have high power and low interest v Involvement of different employees varies but essentially it is critical. People in managerial positions may take more pride in their work as a pose to people working on board carrying out tasks such as cleaning and waitering.

Customer analysis v This stakeholder is very relevant as without them, there would no point in running the business as there would be no one to receive the service and pay for it v Customers have low power and high interest v Involvement in running the business is not important but vital in providing a service. They cannot really influence how the business is run. They do have high interest however in the business as they want to enjoy what they have paid for

Competitor analysis v Competitors are relevant as they can influence whether potential consumers go to this business or else where. They want information from us such as the performance of the company. v Competitors have high power and high interest v Involvement is important but not as much as employees or customers. They have high power as if competitors prices became lower, this could influence a decrease in our companies prices so that market share is not lost. They are heavily involved in the business as competitors would constantly have to watch what each other are doing

Supplier analysis v Suppliers are relevant as they are supplying food for example to the cruise which is vital for the passengers to survive on. They would have little opinion on the business however. v Suppliers have low power and low interest. v Involvement is high; if a particular supplier stopped supplying their food to the company, they could easily be replaced by another company. They would not have a great amount of interest in the business as long as they are supplying food to someone and making money

Communication v Communication is vital when considering stakeholders v It ensures that everyone is up to date with the latest developments in the business, this is important as it enables all stakeholders to contribute as much as they can Ø Key points to consider = What to communicate How to respond

Communication with employees v There are many different reasons to communicate with staff v Methods could be phones calls and emails on a frequent basis. This would be quite informal if it involves regular day to day messages v Staff could respond by reassurance of tasks being completed satisfactorily

Communication with customers v Content to communicate would be new offers, updates, price promotions and advertising v Communication through email, TV (although a limited budget), direct mail. Formal as well as informal such as direct mail, and frequent. v Response – in the form of questions, suggestions and feedback.

Communication with competitors v Communication would be through newspapers and magazines. Reviews would allow different competitors to see how there competitors are performing. v Companies would not directly respond to this but would respond by possibly making changes to their prices or performance.

Communication with suppliers v A key method of communication would be through phone calls to negotiate prices and units. E-mail would take too long to generate a response v This would be done on a regular basis v Feedback would confirm that was it needed from the cruise company can actually be delivered.