Stakeholders refer to individuals or groups that can affect or are affected by the actions of the organizations. - It is one of the biggest challenges to effectively balance the needs of various stakeholders. An organization needs to recognize and address the concerns of its stakeholders (such as employees or customers) in an ethical and fair manner, so that they are satisfied. This sound good in theory, but how can managers go about this in practice? Students are to critically compare and present the importance of different stakeholders Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients. - Richard Branson PRESENTATION INSTRUCTION In comparing the above 2 different perspectives. PUT THE CUSTOMERS FIRST, THE EMPLOYEES SECOND, AND THE SHAREHOLDERS Choose any ONE (1) industry THIRD. JACK MA Select ONE (1) specific company in that chosen industry Based on your selection, which stakeholder (employees OR customers) is the most powerful in influencing the business of that particular company? Justify, argue and explain your answer. Your argument (explanation) must include below information: Power that the stakeholder has over the company/ industry. How the chosen stakeholder help the company gain a competitive advantage? As a manager of the company, what would you do to ensure the chosen stakeholder will remain and loyal to your company?