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Successful entrepreneurs understand their business must remain strong or everyone in the organization will be out of a job. Just as oimportant, their team members need to have the same understanding!Therefore the business owner needs to recruit and retain strong team members who have the same DNA as the business owner. Once they recruit the right team members, they develop delegation skills and rely on the right people.

Discuss several Internal Stakeholders and provide at least 2 specific examples: Who are the major stakeholders who work within (internal) the business? Discuss several retention strategies aimed at keeping these key players on the team. Discuss several External Stakeholders and provide at least 2 specific examples:How do suppliers and vendors support the business' competitive advantage strategies?Does a deep dependency on external stakeholders put businesses in a vulnerable position? What can they do to avoid being under the 'control' of external suppliers/vendors?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93075032

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