effects of change on stakeholders Flashcards
managers
are those who make decisions on the directions of the business and strategies used to achieve. the change of processes and position while managing the change
positives: accolades for leading the business through change.
financial success may lead to bonuses
change in management styles
new opportunities
negatives:
stress
resent the change as effects them
resented by employees due to mismanagement of change
new role and responsibilities that are less desirable
employees
often most effected due tot their the one carrying out the change.
positives:
new opportunities and responsibilities
less safety risks or differentiation in tasks
successful business means long term job and financial security
new training leads to promotions and opportunities
better employment conditions and bonuses eg. performance related pay
negatives:
redundancy, loss of job, income, loss of esteem due to technology, overseas manufacture, outsourcing,
new skills and demands cause fear, requiring support, counselling, retraining
customers
are the ones who purchase the goods and services. preferences and needs of the customer are crucial
positives:
hopefully benefit with better goods and services, focused on their needs.
higher quality
lower prices
csr behaviour creates ease within the customer
negatives:
quality sacrificed for price, loose connection
feel their brand loyalty is taken advantage of
suppliers
the providers of resources. positives: additional contracts or volume orders negatives: supplier may feel venerable and cut ties to business suppliers unpredictable and spontaneous effect change csr move operations
general community
positives
success means more employees, reducing unemployment rates
more tax
csr leads to less waste, less environment damage.
charitable donations
negatives:
unemployment levels, supplier closure, lower income, social wellbeing in a community.
reliance on support services
less staff impacts surrounding businesses that provide g and s to employees
