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Introduction to Management -- Economics, Finance and Management - Assignment Example

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Introduction to Management -- Economics, Finance and Management

     Stakeholders are the group of people or organization that can affect or can be affected by the activities of another group of people or organization. “Stakeholders in a company may include shareholders, directors, management, suppliers, government, employees, and the community.” (Investopedia). The two most influential stakeholders of HBT are the suppliers (North Devon Clays Ltd) and Richard Slade (the chief Executive of the company). The conflict that can occur between these two parties is that the supplier may ask for increased price for the white clay supplied to HBT Ltd whilst the director may want to give reduced price so that he can improve the profits and the overall position of the company. Stakeholder analysis is usually done through stakeholder mapping technique and the most influential stakeholder is kept satisfied accordingly. (Stakeholder Mapping, 2010)
Profit maximizing is the technique of making highest possible profits that can increase the value of the owners of that company, such high profits are then given back to the owners in the form of dividends. Profit satisficing on the other hand is to make enough profits to keep the owners of a particular company comfortable. Both of these techniques have different aims, usually the satisficing technique aims for long term prospects for the company while profit maximizing technique looks at the short term aspect. “A satisficing objective is to maximize the probabilities to attain some required target performance levels”. (Shi et al, 2007)
HBT Ltd seems to be a profits satisficer because of its director’s long term vision for the company, the company seems to be focusing on certain cost reduction targets. This can help the company to focus on the intensified competition in the ceramic tile industry. Besides this factor, ambitious plans are made within the company so as to increase the company’s market share to 20% in 2012 as compared to its current 6% ...Show more


The product offered by HBT Ltd is ceramic tile and the service that it offers is the assisting feature that it provides to its corporate clients only. The ceramic tiles produced by the company are deemed to be of the best possible quality and the aim of the company is to fulfill…
Author : antoinettekilba
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