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Following is given how different stakeholders contribute to affect the process of decision making.

Employees:

Employees have their jobs and usually their livelihood at stake in the relationship with the firm, they often develop specialized skills that cannot be used in otherindustries i.e. these are specific investments that add value to the working relationship with the firm. Employees have therefore a legitimate interest in the security of their jobs, infair wages and a safe andmeaningful working environment. They expect the corporation to pay attention to their needs and involve them in decision making processes that can affect these issues at stakes e.g. in case ofindustrial reorganizations.

Suppliers:

Suppliers provide goods and services to the firm and in turn the firm is a client forthem. Therefore, suppliers have quotes of their income at stake inthe relationships with the firm, which can become a vital aspect particularly whentalking of small suppliers who deal with a large corporation as their main or unique client in this case there are usually specific investments done by the suppliers to improve the quality of goods and services delivered, which generate a stronger dependency on the relationship with their particular client-firm. Suppliers therefore expect the corporation to develop a partnership approach with them, and not be used simply as a source of raw materials or services.

Customers:

Customers who buy the corporate products originate revenues available for the organization, which in turncan be used by the management to improve the qualityofthe existing goods and develop newproducts and services. So they expect the corporation to deal with them in a service-oriented way.

Local Community:

The local communityprovides to the firm a vital resource the environment where the firm builds its own facilities, and where its own employees, customers and suppliers engage with each other. The local community benefits from the contributionofwealth creation generated by the presence ofthe corporation, and from the amount oftaxes paid to the local government. But there arealso negative impacts to be considered in their decision making process, such as increased pollution, environmental risks, toxic waste and increase of traffic.

Government Agencies:

Government agencies are those agencies, which provide the necessary institutional and legal framework within which acorporation can operate such as regulatory agencies, market control institutions and international agencies. It is very important to consider government agencies in to decision making process. The firm cannot operate without such framework and thegovernment agencies expect in return that the management acts in a cooperative way with them, ensuring the firm is in compliance with all relevant legal requirements, such as tax payments, lobbying and other sensitive corporate activities. (Freeman & Colle, 2001)

Methods of contact that will enhance business relationship with stakeholders:
Following are the methods of contact that Classic Badges Company can use to enhance business relationship with stakeholders.

Formal and informal meeting
Conference calls
Newsletters
Emails
Lunch meetings
Sporting event meetings
Hallway conversations (B