Stakeholders basically are the people or groups that are interested in a company. The company influences them by its activities and they influence the business in return. The stakeholders of Reliance limited can significantly influence the strategic direction of a company. The company must addresses to the interest of stakeholders as it can influence their perception about the company, its products and services and most importantly its brand name.
STAKEHOLDER GROUPS OF RELIANCE LIMITED:
Reliance limited has a wide variety of stakeholders, having significant impact on various activities of business. The following are the stakeholder group of reliance limited:
- Investors: Investors are mainly interested in generating more profits. They also want the operational cost to be less so that there will be more dividends and EPS. The company try to address the investor’s concern through stable business operations, growth rate and innovation etc.
- Customers: In regards to reliance limited, customer wants affordable prices and quality products. Reliance social responsibility ensures quality through R&D and up to date products. However the prices are still an issue.
- Employees: Employees are the integral part of reliance limited. The main interest of employees is job security and fair wages. The company has various policies and programs to satisfy the employees and are partially able to fulfill their needs.
- Partners: Its Partners usually includes JV & business partners. The needs of partners should be taken in consideration through CSR programs in order to grow your business.
- Community: The main interest of this group includes sustainable development. The company focus their efforts towards this group through social institutional buildings, energy management, product stewardship, health and safety programs etc.