List one internal and external stakeholder and explain why they have an influence on a business.

Internal - Managers : managers have the responsibility of ensuring the smooth running of their department and therefore making sure that all employees are working towards both their departments and the overall organisational goal. Thus, making sure employees are complying with the companies long term vision and this will only guarantee the smooth running of the business. External-Customers: customers can affect the success of any business. If the business provides consumers with a positive experience, the consumer will gain a sense of loyalty meaning that they will continuously spend within the business, boosting profitability. If consumers have a negative view of the business, they will not waste their time or money within this business and will perhaps go to one of their competitors. Therefore businesses need to ensure customer rentention by creating positive relationships with their consumers.