Every business should consist of stakeholders; stakeholders are a person, group or organisation that has interest or concern in the business. These are broken down into internal (which is from within the business) and external (which is from outside of the business).
The key internal stakeholders for Boohoo are: shareholders, owner, manager and employees. The other stakeholders are: investors, suppliers, banks, consumers, and the government.
The key internal stakeholders for HOF are: shareholders, manager, owner and employees. The other stakeholders are: suppliers, consumers, trade unions, government, banks and the community.
Boohoo and HOF have similar stakeholders however the difference is HOF also has the community and trade unions as they have a physical store which will affect immediately effect the public and their employees are more likely to belong to a trade union as there are more aspects for them to strike about.
The shareholders objective in both boohoo and HOF is to get return on their investment in hope the business will grow; in boohoo’s case this may be to have an actual store in the future and HOF to go global. The employees objective for both businesses is to get paid and create a career path that they can work their way up within the business; however this may be easier for employees for HOF as there are more job opportunities available for them than Boohoo. The consumers objective is to receive decent goods and service, they want the products which is the same for both businesses.
Who Are The Stakeholders
Company
Staff
Owners
Community
Suppliers
Customers