David Adesokan Damilare

Good day class, INTRODUCTION: Stakeholders are individuals, groups, or organizations that have an interest in or are affected by the actions, decisions, and outcomes of an organization. They can influence or be influenced positively or negatively by the organization’s operations, policies, and performance. Most companies primarily must have stakeholders in order to achieve their desired goals and aspirations . The company that got my interest is that of A water utility company. A water utility company is an organization responsible for providing water related services to communities, industries and businesses. Services they render include water supply and infrastructure management. For a water utility company the three most important stakeholders are: CUSTOMERS: The target of any business is to earn trust of customers by so doing all necessities should be put in place in order to satisfy or solve the problem of the customers which converts to profit for the company HOW IS THE CUSTOMERS INTEREST CATERED FOR: Ensuring access to clean, safe, and reliable water supply Offering affordable pricing and transparent billing systems. Providing timely maintenance and addressing service disruptions. WHAT MAY HAPPEN IF EXPECTATIONS ARE NOT MET: Dissatisfaction and complaints, leading to negative public sentiment. Loss of trust and possible customer migration to alternative providers that are available. Regulatory intervention if public health is compromised. EMPLOYEES : These are individuals that are employed to deploy services in and out of the company. HOW INTEREST ARE CATERED FOR: Providing safe working conditions and fair wages. Offering training programs and opportunities for career advancement. WHAT MAY HAPPEN IF EXPECTATIONS ARE NOT MET: Decreased morale, productivity and potential employees strike. High staff turnover which eventually leads to operational inefficiencies. REGULATORY BODIES: These are trained individuals who engage in making sure companies provide top notch services to consumers for example here in Nigeria we have Nafdac who makes sure those willing to open a water company must come for proper accreditation and check up before product is dished out for public consumption. HOW INTEREST ARE CATERED FOR: Complying with environmental, health, and safety regulations. Reporting operational and financial performance transparently. WHAT MAY HAPPEN IF EXPECTATIONS ARE NOT MET: Strained relationships with policymakers, potentially hindering future operations. Hefty fines, legal penalties or possibly revocation of license. CONCLUSION By effectively addressing the needs of these stakeholders, a water utility company can maintain operational efficiency, avoid potential disruptions and foster long term trust. Thank you! Blessing.