In any business stakeholders are of many types; falling either into a category of a shareholder, customer, employee, government or general public. However their expectations are plenty. In the sense these parties anticipate many from the organization. Shareholders A Share holder is an investor who has exchanged equity in the business for the investment; owning shares of stock in a corporation.
While various amounts held determine their actual control of the business, for corporations along with the ownership the shareholders get the right to declare dividends and also the right to vote on certain company matters including selection of board of directors. Maximizing profits can be identified as the most common expectation of a shareholder in any organization unless it’s a non-profit. They have invested with a certain level of hope towards the return. Similarly the shareholders want to see an organization prosper day after day.
Therefore they always look to expand the business and diversify it in whatever possible manner with least risk. Although some organizations reach peak, they fail to maintain it. The ultimate goal of any shareholder is to sustain in growth. Strategies are formulated and implemented with this intention. Social Recognition to the business is another shareholder expectation. The same way they expect profits after investing they want the corporate to have a valuable goodwill. Technological growth, to be the benchmark in the industry, share price to be at true market value are some more factors that a shareholder expects from an organization.
Customers A customer, also called client, buyer, or purchaser, is usually used to refer to a current or potential buyer or user of the products/services of an individual or organization. Customer spends his precious money in order to enjoy a quality product or service. Value for money is an explicit expectation of a customer. He always expects the good or the service he buys to be the worth of money he pays for it. In a world giving green environment so much of significance, ethical business practices certainly is omething the environmental friendly customers appreciates.
Organizations vie in a highly competitive atmosphere trying to gain competitive advantage over another rival. Excellent after sale service is a vital customer requirement to be fulfilled. Most of the organization specifying this as a critical success factor alone shows how important it is to the customers. Easy access, innovative products, modern technology being used for production, excellence in service quality, competitive pricing, quality of products are few more customer expectations. Employees
An employee is a person who is hired to provide services to a company on a regular basis in exchange of compensation. No organization could survive without a competent enough, loyal workforce. Therefore it shall not be wrong if the employees are considered to be the most crucial part of stakeholders for any organization. However the employee expectations highly variant on the educational, social background of the individual Job security is the utmost expectation of an employee. There is nothing else than a secured job that keep the employees motivated and devoted.
However, after occupying their precious time and money on the organization they work for, employees basically expect a fair pay that also goes in par with the industry rates. Career progression is an expectation of another fraction of employees in any organization. If not they tend to leave the organization for another. Challenging work, conducive working environment, recognition and acknowledgement, work life balance, terminal benefits, transparency in his job, share ownership schemes, job satisfaction, equity among employees in same grade are some of the common employee expectations. Regulatory Authorities and General Public
Government being the regulatory authority in the country expects any corporate to pay tax revenue on time, since it is on the tax that the government survives. Similarly there is a certain amount of labour laws that the government has constituted and thereby expects the organizations to adhere to. On the otherhand the general public is more concern that any corporate would not affect their day to day routine; and obeys the environmental standards. Also that at the production, minimum health conditions are followed, corporate social responsibility is thoroughly esteemed and the ethical business practices are well observed.