Employees: Provide continuity in the day to day operations of the business. The

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Employees: Provide continuity in the day to day operations of the business. The amount of people working for the company and the roles they are carrying out affect the strategy of the company. Suppliers: Provide material and service support to the company so that the company can run its operations smoothly simply by investing some resources. A lot of cost, delivery to customer and fulfilment of operation is dependent on the suppliers Customers: They are the recipient of the final product sold by the company. They verify whether the product is suitable for use/ consumption and they are the people who decide if the product/ service provided by the company should exist in the market or not. Competitors: They keep us on our toes, forcing us to innovate, improvise our products and strategize so that we can survive in the market. Government Agencies: They create rules and regulations, for the functioning of the organization, so that the action of the company is within the norms of the society and benefit the common people and the market they constitute. A company should strategize based on the policies and regulations in place otherwise they will be soon out of the market. The news media: They update us with the recent event and information about our competitors. They act as a medium between the organization and the customer. The advertising strategy should be such that the conversion rate increases

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Q2. Vision and mission statements need to engage stakeholders. Using examples, who are stakeholders and what influence do they have over strategy?

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