INTERNAL STAKEHOLDERS

The Needs of Internal Stakeholders

The Needs of Internal Stakeholders

Introduction

Stakeholders are the persons or other organizations that participate in the creation of the project (taking an active part in its implementation), or are directly concerned by the results of its implementation. Stakeholders can have an impact on the organization. Internal and External Stakeholders both have an impact on the decisions of the organization. Internal Stakeholders are those to whom responsibility for the implementation of the project shall be borne by the project manager. In Contrast, external stakeholders are those who influence the organization acting in the environment.

The management of the company should be interested in the ongoing effects of the company and if necessary take appropriate organizational and other measures to eliminate irregularities. Basic information about the economic-financial results of the enterprise are included in the accounting records and prepared on the basis of its financial statements.

The accounts allow for a fairly comprehensive assessment of assets and outcome of an entity for a specified period of time (year, quarter, month). The management entity should have the ability to use the figures contained in the financial statements and be able to learn from reading these reports. Keep in mind that the financial statements may also benefit other institutions such as banks, when applying for credit companies, including joint stock companies whose shares are traded on the stock market. Based on the financial statements of listed companies, conclusions are drawn which may affect the market price of shares.

Enterprises should depend on the presentation of good and reliable information in financial statements. Accounting records are kept in different sections and with appropriate detail, depending on the specific needs of the unit provides basic information and thus creates the possibility of preparing financial statements of various information and for any periods.

The financial statements and executed on the basis of the relevant comparison, calculations, and the transformation should be of interest to the management company (the company), directors, audit committees and other bodies of the operator. The ability to use information contained in financial reports is an important aid in the management of and decision-making by the steering apparatus.

We will assess the information needs of the Internal Stakeholders in the organization and will assess how these needs would be met.

Literature Review

In the last decades, the term "stakeholder" has evolved to mean a person or organization that has an interest in a legitimate project or entity. With regard to decision making in institutions, including large companies, agencies of State and non-governmental organizations, the concept was expanded to include anyone with an interest in the entity's shares. This includes not only distributors, employees, and customers, but also members of the community where its offices or factory may affect the local economy or the environment. For example, in a project to rehabilitate properties whose buildings are inhabited during the work, the "stakeholders" are residents and neighbors suffering nuisance, the team managing the project, the landowner, the financiers, the architect and ...