Who are the most important stakeholders of Tendra Tents?
What do they want from the company?
Where could stakeholder conflicts arise?
And, most importantly for the CIMA Operational Case Study, how should you analyse those stakeholder issues as Tendra’s Finance Officer?
Join our FREE CIMA OCS November 2026 Mini Course and begin your preparation before the pre-seen is released. https://learn.keystoneacademia.com/course/cima-ocs-nov-26-mini-course
Join our CIMA WhatsApp Community https://chat.whatsapp.com/DrL4VTLN3TuGtKujlQfJ4j
Stakeholder analysis is a particularly useful area for students preparing for the CIMA OCS November 2026 and February 2027 examinations because almost every major business decision can affect more than one stakeholder group.
Consider some realistic examples.
If Tendra increases its selling prices:
shareholders may benefit from stronger margins
but
customers and retailers may dislike the higher prices.
If Tendra switches to a cheaper overseas supplier:
Finance may see a potential cost saving
but
customers, management and other stakeholders may be concerned about sustainability, quality or supply-chain risk.
If Tendra introduces greater automation:
management may see opportunities for efficiency
while
employees may worry about their jobs or changing skill requirements.
This is why stakeholder analysis matters.
The aim is not to memorise a generic list of stakeholders.
You need to understand:
Stakeholder → Objective → Power → Interest → Conflict → Business impact → Management response
This guide provides a detailed Tendra Tents stakeholder analysis, including Mendelow’s power-interest matrix, potential stakeholder conflicts, E1/P1/F1 links and realistic OCS practice scenarios.
What is a stakeholder?
A stakeholder is an individual or group with an interest in, or expectations of, an organisation.
Stakeholders can broadly be considered as:
Internal stakeholders
People directly inside the organisation.
For Tendra, these include:
- founders/directors;
- managers;
- employees;
- Finance Department employees, including your Finance Officer role.
Connected stakeholders
Groups that have direct commercial or financial dealings with Tendra.
These include:
- customers;
- retailers;
- suppliers;
- lenders;
- logistics providers and couriers.
External stakeholders
Groups outside the direct commercial relationship that can nevertheless affect or be affected by Tendra.
Potential examples include:
- government;
- regulators;
- tax authorities;
- local communities;
- environmental groups.
Some of these are general stakeholder categories rather than groups specifically identified as active stakeholders in the pre-seen.
That distinction is important.
Tendra Tents stakeholder map at a glance
| Stakeholder | Likely interest in Tendra | Main potential issue |
| Founders/shareholders | Profit, dividends, growth, long-term value | Profit versus reinvestment |
| Directors/managers | Business performance and departmental objectives | Competing priorities |
| Employees | Pay, security, conditions, development | Cost control / technological change |
| Customers | Quality, value, sustainability, service | Price versus quality/sustainability |
| Retailers | Margin, demand, reliable supply, credit | Tendra margin versus retailer margin |
| Suppliers | Long-term business, payment, partnership | Cost versus sustainability/reliability |
| Bank/lender | Interest and repayment | Borrowing and financial risk |
| Logistics providers | Commercial relationship | Cost versus service |
| Government/regulators | Compliance, tax, employment, environment | Compliance cost |
| Local community | Employment/environmental impact | Growth versus local impact |
| Environmental interests | Genuine sustainability | Cost versus environmental performance |
This is an analytical stakeholder map. The pre-seen does not assign power and interest ratings to each group.
Those ratings depend on the decision being considered.
1. Founders and shareholders
Tendra Tents is owned by its three founders:
Rhona Velic
Talia Morel
Fredrick Calvern
All three are also directors and remain actively involved in running the company.
This is significant.
At Tendra, ownership and senior management overlap.
The shareholders are not distant external investors.
They are directly involved in:
- strategy;
- product development;
- sales and marketing;
- business direction.
What are the founders likely to want?
As shareholders, they may reasonably be expected to care about:
- profitability;
- cash generation;
- dividends;
- long-term value;
- business continuity.
However, the pre-seen also provides strong evidence that the founders care about:
- sustainability;
- durability;
- quality;
- innovation;
- outdoor recreation.
Therefore, it would be too simplistic to say:
“The founders only want maximum profit.”
Their stated values suggest broader objectives.
Shareholders and dividends
Tendra paid dividends of:
T$650,000
during the year ended 30 June 2026.
Profit for the year was:
T$1.128 million.
Therefore, a significant proportion of annual profit was distributed.
This creates a potential future stakeholder trade-off.
If Tendra wants to invest in:
- smart tents;
- modular products;
- new production technology;
- geographic expansion;
- strategic partnerships;
management may need additional finance.
That could create a choice between:
paying dividends now
and
retaining profits to finance future growth.
Finance can help the directors understand the implications for:
- cash;
- borrowing;
- liquidity;
- investment capacity;
- risk.
Potential founder conflict
The pre-seen does not state that the three founders disagree.
Do not invent such a conflict.
However, different functional responsibilities could create different priorities in a future scenario.
For example:
Rhona, as Product Development Director, may focus on innovation.
Talia, as Sales & Marketing Director, may focus on customers and sales channels.
Fredrick, as CEO, considers overall strategic direction.
Finance should provide objective information so decisions are based on the interests of Tendra as a whole rather than one department.
2. Directors and senior management
Tendra has directors responsible for:
- Chief Executive;
- Product Development;
- Sales & Marketing;
- Production;
- Human Resources;
- Finance.
Each director may have different information requirements.
This is where finance business partnering becomes especially important.
Product Development Director
Rhona Velic leads Product Development.
She is currently working on products including:
- modular tent systems;
- smart tents.
Her team may need Finance to provide information about:
- development costs;
- product cost;
- expected selling price;
- margins;
- budgets;
- commercial viability.
Finance should not decide which tent should be designed.
Instead, Finance should provide financial information to support the product-development decision.
Sales & Marketing Director
Talia Morel is responsible for Sales & Marketing.
She focuses on:
- promotional campaigns;
- retailer relationships;
- new sales channels.
Finance may support her with:
- sales analysis;
- channel profitability;
- product margins;
- pricing information;
- promotional analysis;
- retailer profitability;
- budget versus actual performance.
A natural conflict could arise between:
Sales wanting lower prices to increase volume
and
Finance/management wanting to protect margins.
The answer is not automatically to reject discounts.
Finance should quantify:
price reduction → expected additional volume → contribution/profit impact
before management decides.
Production Director
Rafael Ortega is responsible for Production and has experience in operations and supply-chain management.
Finance may support Production with:
- standard costs;
- material variances;
- labour variances;
- overhead analysis;
- production volumes;
- efficiency KPIs;
- waste;
- inventory information.
Potential tension could arise if Production wants:
- more employees;
- more inventory;
- additional equipment;
- higher-quality materials;
while Finance is trying to control costs and cash.
The objective should be optimisation, not simply cost reduction.
Human Resources Director
Lien Chen has a particular interest in employee rights.
HR may focus on:
- recruitment;
- employee development;
- motivation;
- working conditions;
- retention;
- fair treatment.
Finance can help HR measure the financial implications of employee decisions.
Examples include:
- training cost;
- recruitment cost;
- employee turnover;
- absenteeism;
- productivity;
- remuneration.
However, employees should not be viewed simply as a cost.
Skills, experience and motivation can affect:
quality → productivity → customer satisfaction → sales and profitability.
Finance Director
Peter Trafford leads Finance.
The Finance team includes:
- Finance Director;
- Head of Finance;
- two Finance Officers;
- two Finance Assistants.
You are one of the Finance Officers.
Your role principally involves preparing management accounting information and providing information to managers to assist with decision-making.
You may also assist with financial statements and other financial matters.
Therefore, stakeholder management is directly relevant to your job.
You may need to communicate financial information differently depending on whether you are supporting:
- Production;
- Sales;
- Product Development;
- HR;
- senior management.
3. Employees
Tendra employed 96 people at 30 June 2026:
Production Facility: 65
Distribution Centre: 12
Head Office: 19
Production employees therefore represent a particularly significant part of Tendra’s workforce.
What are employees likely to want?
General stakeholder theory suggests employees commonly care about:
- fair pay;
- safe working conditions;
- job security;
- fair treatment;
- career development;
- training;
- communication.
The exact priorities of Tendra employees are not stated in the pre-seen, so these should be treated as reasonable stakeholder analysis rather than case facts.
Why employees matter to Tendra
Tendra manufactures its own tents.
Employee performance can therefore directly influence:
- production volume;
- quality;
- material waste;
- labour efficiency;
- customer satisfaction;
- production cost.
For example:
poor motivation → lower productivity → adverse labour efficiency → higher unit cost
or:
insufficient training → production errors → defects → rework → higher cost + possible customer dissatisfaction.
This creates a direct link between E1 people management and P1 cost/performance analysis.
Employees and technological change
Tendra is developing smart tents and already uses AI within its website.
Future technological changes could affect employee roles.
Potential employee concerns could include:
- whether their jobs will change;
- whether they have the necessary skills;
- whether automation threatens job security;
- whether training will be provided.
These are possible consequences, not confirmed employee concerns.
Management should communicate clearly and provide appropriate training where necessary.
Employees and cost control
Imagine Tendra experiences increasing labour costs.
A weak response would be:
“Reduce employee numbers.”
That could reduce costs but potentially create:
- capacity shortages;
- lower morale;
- lower quality;
- overtime;
- higher employee turnover.
Finance should help management understand both the direct saving and indirect consequences.
4. Customers
Customers are one of Tendra’s most important connected stakeholders.
Tendra serves customers ranging from casual campers to serious mountaineers through its:
- Essential;
- Explorer;
- Elite
tent ranges.
Customers can purchase directly through Tendra’s website, and customers in Teeland can also purchase through retailers.
What do Tendra customers want?
Likely customer expectations include:
- quality;
- durability;
- functionality;
- value for money;
- reliable delivery;
- accurate information;
- good customer experience.
Tendra’s mission also suggests sustainability is an important element of its customer proposition.
The wider industry evidence states that many customers, particularly younger consumers, increasingly want sustainable and repairable outdoor products.
Customer conflict: price versus quality
Customers generally prefer lower prices.
But they also want quality.
Tendra uses sustainable materials and focuses on durability and functionality.
Those characteristics can increase costs.
Therefore, management faces a potential trade-off:
Lower price
versus
quality + sustainability + margin
Tendra should avoid reducing cost in a way that damages the features customers value.
Customer conflict: sustainability versus affordability
This is another important relationship.
Customers may want sustainable products.
But they may not be willing or able to pay unlimited premiums for sustainability.
This is particularly relevant because tents are discretionary products and economic conditions can influence demand.
Finance should help assess:
- customer willingness to pay;
- production cost;
- target margin;
- competitor pricing.
Customers and AI
Tendra’s website uses AI to help customers find tents suited to their needs.
Potential benefits include:
- easier product selection;
- improved customer experience;
- personalisation.
However, customers may also care about:
- privacy;
- security;
- accurate recommendations;
- transparency.
These issues could become particularly important if Tendra expands its use of customer data.
5. Retailers
Retailers are another important stakeholder group.
Approximately 30% of Tendra’s revenue is generated through retailers.
Tendra currently partners with retailers in Teeland.
Most are outdoor gear stores, with some specialist camping retailers.
What do retailers want?
Potential retailer expectations include:
- products customers want;
- reliable deliveries;
- attractive purchase prices;
- sufficient margin;
- credit;
- marketing support;
- product information.
Tendra gives retailers payment terms of between:
30 and 60 days.
This makes retailers important not only commercially but also financially.
Tendra versus retailer margins
Retailers need to make a profit from selling Tendra products.
That means Tendra’s retailer selling prices are lower than direct website prices.
This creates a natural stakeholder tension.
Retailers may request:
- lower purchase prices;
- larger discounts;
- longer credit;
- promotional support.
Tendra needs to protect:
- its own margin;
- cash flow;
- brand positioning.
Finance should therefore evaluate retailer proposals using:
- incremental revenue;
- contribution;
- discount cost;
- receivable impact;
- credit risk;
- strategic value.
Could Tendra’s website compete with its retailers?
Potentially.
Tendra sells directly to customers while also supplying retailers.
This creates the possibility of channel conflict.
For example, if Tendra offers substantial online discounts, retailers may feel they cannot compete.
However, the pre-seen does not state that such a conflict currently exists.
It is a useful potential scenario to practise.
Management should consider the long-term value of retailer relationships before making channel-specific pricing decisions.
6. Suppliers
Suppliers are particularly important to Tendra’s business model.
All raw materials are obtained from certified sustainable suppliers in Teeland.
Tendra has established long-term partnerships with them.
The company believes these relationships support:
- consistent quality;
- ethical practices;
- sustainability;
- reputation.
What do suppliers want?
Suppliers will generally want:
- continued orders;
- predictable demand;
- fair prices;
- payment according to agreed terms;
- good communication;
- long-term relationships.
Tendra’s supplier payment terms range from:
30 to 90 days.
Supplier conflict: lower cost versus fair supplier return
Tendra wants to control production costs.
Suppliers need commercially viable prices.
Aggressively forcing supplier prices down could potentially:
- damage relationships;
- reduce supplier profitability;
- affect quality;
- reduce willingness to prioritise Tendra.
This could conflict with Tendra’s emphasis on ethical, long-term partnerships.
Finance should therefore consider total supplier value, not just purchase price.
Supplier conflict: payment timing
Delaying payments preserves Tendra’s cash.
But paying later than agreed could damage supplier relationships.
That creates a classic F1 working-capital trade-off:
Longer payables → better short-term cash
but potentially:
weaker supplier relationship → operational/supply risk.
Finance should manage payables within agreed terms.
Supplier conflict: bulk discounts
Some suppliers offer bulk-purchase discounts, and Tendra often takes advantage of these.
This can reduce:
- unit purchase cost;
- number of deliveries;
- transport-related environmental impact.
But larger orders can increase:
- inventory;
- cash tied up;
- storage;
- obsolescence risk.
Therefore, Finance needs to consider the total financial impact.
7. Banks and lenders
Tendra has bank borrowing.
At 30 June 2026:
non-current bank loan = T$950,000
current bank loan = T$150,000
Total bank borrowing:
T$1.100 million
Banks are therefore connected stakeholders.
What does the lender want?
A lender will generally want:
- interest paid;
- capital repaid;
- acceptable financial risk;
- compliance with borrowing conditions.
Tendra’s improving profitability and cash generation may be relevant to the lender’s assessment.
However, if Tendra takes on additional borrowing for:
- expansion;
- smart tents;
- equipment;
- other investment;
the lender may become more interested in:
- cash-flow forecasts;
- gearing;
- interest cover;
- repayment ability.
Finance would play a central role in providing this information.
8. Logistics companies and couriers
Tendra uses external providers to distribute products.
An external logistics company handles retailer despatches.
A separate third-party courier is used for direct website shipments.
These businesses are therefore connected stakeholders.
Why logistics stakeholders matter
They influence:
- delivery cost;
- delivery speed;
- reliability;
- customer experience.
A low-cost courier that provides poor service could damage Tendra’s customer relationships.
Therefore, management should consider both:
cost
and
service quality.
Finance can support this by analysing:
- cost per delivery;
- damaged-delivery rates;
- customer complaints;
- delivery times;
- contract costs.
9. Government and regulators
Government and regulators are external stakeholders.
Potential interests generally include:
- compliance with law;
- tax;
- employment;
- environmental standards;
- consumer protection.
Environmental regulation is particularly relevant because Tendra’s founders identify increasing environmental regulation as an industry challenge.
Regulation: threat and opportunity
New regulation could increase:
- compliance costs;
- reporting;
- production requirements.
But Tendra’s existing sustainability focus could potentially put it in a stronger position than less environmentally responsible competitors.
Therefore:
regulation → cost
but potentially also:
regulation → competitive advantage for well-prepared sustainable businesses.
The exact impact would depend on the regulation.
10. Tax authorities
Tendra operates under Teeland’s tax regime and has tax obligations.
The tax authority therefore has an interest in:
- accurate tax calculations;
- correct reporting;
- timely payment;
- compliance.
The Finance Department has a direct role here.
Students should always apply the tax information given for Teeland rather than importing rules from their own country.
11. Local community
Tendra’s:
- Production Facility;
- Distribution Centre;
- Head Office
are located close together in the south of Teeland near the capital.
Tendra also employs 96 people.
It can therefore reasonably be inferred that the company has an impact on the local community through:
- employment;
- economic activity;
- transport;
- environmental effects.
The pre-seen does not provide detailed information about the community’s views.
Do not invent local disputes or community concerns.
But community impact is a reasonable external-stakeholder consideration if an unseen proposal involves major expansion or operational changes.
12. Environmental groups and wider society
The pre-seen does not identify a specific environmental pressure group dealing with Tendra.
Therefore, do not invent one.
However, environmental interests are relevant to Tendra because its mission explicitly focuses on sustainability and reducing harm to nature.
A significant environmental failure could potentially damage:
- reputation;
- customer trust;
- stakeholder confidence.
Likewise, credible sustainability performance could reinforce the brand.
This makes accurate sustainability communication important.
13. Competitors – are they stakeholders?
Competitors are sometimes included in broad stakeholder discussions, although their relationship is different from employees, customers or suppliers.
For Tendra, competitors influence:
- pricing;
- product innovation;
- customer expectations;
- market share.
The founders specifically identify competition from imported products as a challenge.
However, in an exam answer, only discuss competitors as stakeholders if this is relevant to the requirement.
Usually, competitors are more naturally analysed through the competitive environment or Porter’s Five Forces.
Mendelow’s power-interest matrix and Tendra Tents
Mendelow’s matrix helps analyse stakeholders according to:
Power
and
Interest
This creates four broad categories:
High power + high interest
Key players
Manage closely.
High power + low interest
Keep satisfied
Low power + high interest
Keep informed
Low power + low interest
Minimal effort / monitor
But there is an important exam point:
A stakeholder does not permanently belong in one box.
Power and interest depend on the issue.
Example: supplier price increase
Suppose a critical sustainable-material supplier announces a large price increase.
That supplier may have:
High interest
because the decision directly affects its commercial relationship with Tendra.
Its power could also be relatively high if Tendra has limited alternative certified suppliers.
In that particular decision, the supplier could be a key player.
But we cannot conclude from the pre-seen that every Tendra supplier permanently has high power.
Example: major retailer
Suppose a retailer responsible for a significant amount of Tendra’s sales demands lower prices.
Its power could be greater than that of a small retailer because losing it could materially affect revenue.
Therefore, Finance would need information about:
- retailer revenue;
- contribution;
- margin;
- customer concentration;
- alternative channels.
This illustrates why stakeholder analysis should be based on the specific decision and available evidence.
Example: employees during automation
Employees may have much greater interest in a proposal involving production automation than in a routine financing decision.
If automation materially changes jobs, management should:
- communicate;
- consult appropriately;
- provide training;
- explain the business rationale.
Employee resistance could otherwise reduce the expected benefits.
Example: bank during expansion
A bank may have limited involvement in routine product decisions.
But if Tendra seeks substantial borrowing to finance geographic expansion, the bank’s power and interest may increase considerably.
The lender could become a key stakeholder in that financing decision.
Possible Mendelow analysis for Tendra
Do not memorise a fixed matrix.
Instead, use something like this:
| Scenario | Stakeholder whose power/interest may rise |
| New borrowing | Bank/lender |
| Supplier change | Existing and proposed suppliers |
| Major product launch | Customers, Product Development, Production |
| Retail pricing decision | Retailers, Sales & Marketing |
| Automation | Employees, Production, HR |
| Environmental initiative | Customers, suppliers, regulators |
| Website/AI change | Customers, Sales, technology providers |
| Dividend decision | Founder-shareholders |
| Geographic expansion | Founders, management, lenders, logistics partners |
| Working-capital change | Suppliers, retailers, Finance |
The stakeholder map changes with the decision.
That is the key lesson.
Major stakeholder conflicts at Tendra Tents
Stakeholder conflicts are particularly useful for OCS preparation because they force you to evaluate trade-offs.
Conflict 1: Shareholders versus employees
Shareholders may want:
- higher profit;
- dividends;
- cost control.
Employees may want:
- higher pay;
- job security;
- better conditions;
- training.
Increasing wages could reduce short-term profit.
But insufficient pay or poor conditions could potentially increase:
- turnover;
- absenteeism;
- recruitment costs;
- training costs;
- quality problems.
Finance should evaluate the total cost and benefit, not just payroll expense.
Conflict 2: Customers versus shareholders
Customers generally want:
- lower prices;
- higher quality;
- better service.
Shareholders want sustainable profitability.
Reducing prices may benefit customers but reduce margin.
Increasing prices may improve margin but reduce demand.
Finance can support the decision with:
- price sensitivity;
- contribution;
- competitor analysis;
- volume forecasts.
Conflict 3: Customers versus sustainability cost
Customers may value sustainable tents but still want affordability.
Tendra therefore needs to balance:
sustainable materials + quality + competitive price + acceptable margin.
This is especially relevant because the industry is experiencing material-cost inflation.
Conflict 4: Tendra versus suppliers
Tendra wants:
- high quality;
- sustainability;
- reliable supply;
- competitive prices;
- favourable payment terms.
Suppliers want:
- acceptable prices;
- predictable orders;
- timely payment.
A decision that benefits Tendra financially in the short term could weaken supplier relationships.
Conflict 5: Tendra versus retailers
Tendra wants:
- strong margins;
- prompt payment;
- brand control.
Retailers may want:
- larger margins;
- discounts;
- longer credit;
- promotional support.
Finance needs to assess whether the additional retailer sales justify the cost.
Conflict 6: Website channel versus retailers
Tendra’s website sells directly to customers.
Retailers also sell Tendra tents.
Heavy online discounting could potentially upset retailers.
Conversely, restricting website activity to protect retailers could reduce direct sales opportunities.
Management therefore needs a coherent omnichannel pricing and relationship strategy.
Conflict 7: Dividends versus investment
Founder-shareholders may value dividends.
But Tendra also has potential growth opportunities.
Cash used for dividends cannot simultaneously finance:
- new technology;
- new products;
- equipment;
- expansion.
Finance should help management compare:
distribution today
with
potential future return from reinvestment.
Conflict 8: Finance versus operational departments
This should not be viewed as personal conflict.
Different functions naturally have different objectives.
Production might request additional equipment.
Sales may request a larger promotional budget.
Product Development may request more funding for innovation.
HR may request additional training expenditure.
Finance needs to evaluate these requests while considering:
- available cash;
- expected benefit;
- risk;
- strategic alignment.
The Finance Officer should act as a business partner, not simply the department that says “no”.
Conflict 9: Cost control versus sustainability
A cheaper material could improve margins.
But if it:
- reduces durability;
- is not sustainable;
- comes from an unethical supplier;
it may conflict with Tendra’s mission and damage customer trust.
Therefore, the cheapest alternative is not automatically the best financial decision in the long term.
Conflict 10: Growth versus liquidity
Management may want rapid expansion.
Shareholders may welcome growth.
Employees may see new opportunities.
But growth can increase:
- inventory;
- receivables;
- capital expenditure;
- cash requirements.
Finance must ensure that profitable growth remains financially sustainable.
Stakeholders and Tendra’s sustainability strategy
Sustainability connects several stakeholders simultaneously.
Customers
May value sustainable products.
Suppliers
Need to meet Tendra’s sustainability and ethical expectations.
Employees
May value working for an organisation whose mission aligns with environmental responsibility.
Founders
Have embedded sustainability into Tendra’s values.
Government/regulators
May impose environmental requirements.
Wider society
Is affected by environmental outcomes.
This means a sustainability decision should not be assessed only by its immediate cost.
Finance may need to consider:
- cost;
- revenue;
- brand;
- risk;
- compliance;
- long-term value.
Stakeholders and smart tents
Smart tents could create a particularly interesting stakeholder network.
Customers
Want useful, reliable technology at an acceptable price.
Product Development
Wants to innovate.
Production
Needs to manufacture/test the product effectively.
Suppliers
May need to provide new components.
Employees
May need new skills.
Finance
Needs to assess cost, price, margin and risk.
Founders
Need to determine whether the product supports strategy.
A single innovation decision therefore creates multiple stakeholder implications.
Stakeholders and geographic expansion
Tendra’s founders are considering expanding the customer base, potentially into another region of the world.
This could affect:
Shareholders
Potential growth and return, but also greater risk.
Employees
Potential workload, new opportunities and possibly new skill requirements.
Customers
Potentially wider access to Tendra products.
Retailers
Could create new partnerships.
Suppliers
Higher production volumes could increase material requirements.
Logistics providers
New distribution arrangements may be required.
Lenders
Additional finance may be needed.
Finance
Forecasts, working capital, cash and risk analysis would be required.
This is a good example of why stakeholder analysis should accompany financial analysis.
Stakeholders and working capital
Working capital decisions can create direct stakeholder conflicts.
Receivables
Giving retailers longer credit may:
help retailers
but
hurt Tendra’s cash flow.
Payables
Taking longer to pay suppliers may:
help Tendra’s cash
but
hurt suppliers.
Inventory
Holding more inventory may:
help customers through better availability
but
tie up Tendra’s cash.
Working-capital management is therefore not purely an F1 calculation.
It is also stakeholder management.
Stakeholders and performance measurement
Tendra should not measure performance only through profit.
Different stakeholders care about different outcomes.
Possible measures could include:
Shareholders
- profit;
- cash generation;
- return;
- dividends.
Customers
- satisfaction;
- returns;
- complaints;
- delivery performance.
Employees
- turnover;
- absenteeism;
- satisfaction;
- training.
Suppliers
- on-time payment;
- quality;
- delivery reliability.
Sustainability
- waste;
- recycled-material usage;
- environmental measures.
The exact KPIs should be selected according to management objectives and available data.
How Finance can support stakeholder management
The Finance Officer can contribute by providing objective information.
For example:
Shareholders
Provide:
- profitability;
- cash;
- dividend information;
- investment forecasts.
Customers
Analyse:
- prices;
- margins;
- returns;
- complaints;
- customer profitability.
Retailers
Analyse:
- revenue;
- contribution;
- discounts;
- receivables;
- credit terms.
Suppliers
Analyse:
- purchase price;
- quality costs;
- delivery performance;
- payment terms;
- inventory implications.
Employees
Support HR with:
- labour costs;
- productivity;
- turnover;
- absenteeism;
- training cost/benefit.
Lenders
Provide:
- cash forecasts;
- gearing;
- interest cover;
- repayment forecasts.
Finance therefore acts as an information bridge between stakeholders and management.
E1 links from Tendra Tents stakeholder analysis
Stakeholders are primarily a strong E1 area.
Students should revise:
- stakeholder identification;
- stakeholder objectives;
- internal/connected/external stakeholders;
- stakeholder conflict;
- Mendelow’s power-interest matrix;
- corporate social responsibility;
- ethics;
- sustainability;
- finance business partnering;
- communication;
- people management;
- supply-chain relationships;
- customer relationships.
But do not simply explain Mendelow’s matrix.
Apply it to the specific Tendra decision.
P1 links from stakeholder analysis
Stakeholder issues also create important P1 connections.
For example:
Customers
Pricing and profitability.
Retailers
Discount and contribution analysis.
Suppliers
Relevant costing and purchasing decisions.
Employees
Labour variances and productivity.
Management
Budgets and performance measures.
Shareholders
Profitability and decision consequences.
P1 can therefore help quantify stakeholder trade-offs.
F1 links from stakeholder analysis
F1 provides another layer.
Retailers
Receivables and credit management.
Suppliers
Payables and payment terms.
Lenders
Borrowing, interest and cash.
Shareholders
Dividends and financial performance.
Government
Tax.
Customers
Potential financial-reporting consequences of certain transactions depending on unseen facts.
This shows again why OCS questions often require integrated thinking.
15 possible Tendra Tents stakeholder practice scenarios
These are practice scenarios, not predictions of the November 2026 or February 2027 examinations.
Scenario 1: Major retailer demands a 10% discount
Consider:
- retailer;
- customers;
- shareholders;
- Sales & Marketing;
- Finance.
Analyse:
- revenue;
- contribution;
- relationship;
- alternative channels.
Scenario 2: Retailer requests 90-day credit
Consider:
- retailer relationship;
- receivables;
- bad-debt risk;
- working capital;
- cash.
Scenario 3: Supplier announces a price increase
Consider:
- supplier relationship;
- production costs;
- margins;
- sustainability;
- alternative suppliers.
Scenario 4: Overseas supplier offers lower prices
Consider:
- shareholders;
- suppliers;
- customers;
- sustainability;
- Production;
- Finance.
Scenario 5: Tendra considers automation
Consider:
- employees;
- Production;
- shareholders;
- customers;
- Finance.
Scenario 6: Smart-tent development
Consider:
- customers;
- Product Development;
- employees;
- suppliers;
- management;
- Finance.
Scenario 7: Customer complaints increase
Consider:
- customers;
- Production;
- employees;
- shareholders;
- retailers.
Scenario 8: Environmental regulation changes
Consider:
- regulators;
- suppliers;
- customers;
- Production;
- shareholders.
Scenario 9: Geographic expansion
Consider:
- shareholders;
- employees;
- suppliers;
- logistics providers;
- lenders;
- new customers.
Scenario 10: Management considers reducing dividends
Consider:
- founder-shareholders;
- Finance;
- investment needs;
- lenders.
Scenario 11: Tendra has excess inventory
Consider:
- Finance;
- Production;
- Sales;
- customers;
- shareholders.
Scenario 12: Supplier fails ethical standards
Consider:
- supplier;
- customers;
- founders;
- Production;
- sustainability reputation.
Scenario 13: Website suffers a cyber incident
Consider:
- customers;
- management;
- employees;
- regulators;
- shareholders.
Scenario 14: Tendra offers large website discounts
Consider:
- customers;
- retailers;
- Sales;
- shareholders.
Scenario 15: Labour costs rise
Consider:
- employees;
- Production;
- shareholders;
- customers;
- Finance.
For each scenario, ask:
Who gains?
Who loses?
Who has power?
Who has interest?
What is the financial impact?
How should Tendra respond?
How to answer a stakeholder requirement in the OCS
Imagine the requirement asks you to explain the stakeholder implications of switching to a cheaper overseas supplier.
Do not write:
“Suppliers are connected stakeholders. Customers are connected stakeholders. Employees are internal stakeholders.”
That is textbook knowledge.
Instead:
Switching suppliers could reduce Tendra’s material costs and potentially improve product margins, which would benefit the founder-shareholders. However, Tendra has deliberately developed long-term relationships with certified sustainable Teeland suppliers to support quality, ethical practices and its eco-friendly reputation. A cheaper overseas supplier could therefore create concerns for customers if the change weakens Tendra’s sustainability proposition. Finance should compare the full landed cost and working-capital impact with the sustainability, quality and supply risks before management decides.
That is applied OCS analysis.
A simple stakeholder answer structure
For stakeholder requirements, try:
Stakeholder
→ What do they want?
→ How does the proposal affect them?
→ What could they do?
→ What does that mean for Tendra?
→ How should management respond?
For example:
Retailer
→ wants acceptable margin and reliable supply
→ proposed price increase reduces retailer margin
→ may resist, reduce orders or seek alternatives
→ Tendra could lose retailer revenue
→ management should explain the value proposition and assess pricing alternatives.
That is much stronger than simply saying:
“Retailers may be unhappy.”
Common mistake 1: Giving every stakeholder the same power
Stakeholder power is not fixed.
A major retailer may have more power than a very small retailer.
A specialist supplier may have more power during a material shortage.
A bank may have greater power when Tendra urgently needs finance.
Always analyse the situation.
Common mistake 2: Listing stakeholder objectives without consequences
Weak:
“Employees want good pay.”
Better:
“Employees may seek higher pay, particularly if living or market wage costs increase. Higher wages would increase Tendra’s production costs, but refusing competitive remuneration could contribute to turnover, recruitment costs or reduced motivation. Finance should therefore assess total employment costs alongside productivity and retention information.”
Common mistake 3: Assuming shareholders only want short-term profit
Tendra’s shareholders are also its founders and directors.
The pre-seen demonstrates their commitment to sustainability, quality and long-term product development.
Your analysis should reflect that context.
Common mistake 4: Inventing stakeholders
Do not write:
“The environmental activist group that campaigns against Tendra…”
No such group is identified in the pre-seen.
You can discuss environmental groups as a possible external stakeholder category, but make that status clear.
Common mistake 5: Applying Mendelow mechanically
Do not memorise:
Customers = high interest, low power.
Their power could vary dramatically depending on the situation.
Likewise, suppliers, banks and retailers may move between categories depending on the decision.
Common mistake 6: Ignoring financial impact
Remember your role.
Stakeholder analysis should eventually connect to something management can act on.
Ask:
- What happens to revenue?
- What happens to cost?
- What happens to margin?
- What happens to cash?
- What happens to risk?
- What information should Finance provide?
Tendra Tents stakeholder revision table
| Stakeholder | Possible objective | Potential conflict | Finance relevance |
| Founder-shareholders | Return + sustainable long-term business | Dividend vs investment | Profit, cash, financing |
| Directors | Department/business performance | Resource allocation | Budgets, decision support |
| Employees | Pay, security, conditions | Labour cost vs employee outcomes | Labour cost/KPIs |
| Customers | Value, quality, sustainability | Price vs margin | Pricing, profitability |
| Retailers | Margin, credit, supply | Retailer terms vs Tendra profit/cash | Contribution, receivables |
| Suppliers | Fair price, payment, continuity | Cost control vs relationship | Cost, payables, inventory |
| Banks | Interest and repayment | Growth borrowing vs risk | Cash, gearing, cover |
| Logistics providers | Commercial relationship | Cost vs service | Distribution cost/KPIs |
| Government/regulators | Compliance | Compliance cost | Tax/cost/risk |
| Community | Employment/environment | Expansion vs impact | Wider decision analysis |
| Environmental interests | Environmental performance | Cost vs sustainability | Long-term value/risk |
Which Tendra stakeholders are most important?
There is no universal ranking.
Importance depends on the decision.
However, students should have particularly strong understanding of:
Founder-shareholders/directors
because they own and actively manage Tendra.
Employees
because Tendra manufactures internally and has 96 employees.
Customers
because quality, sustainability and value are central to the proposition.
Retailers
because they account for around 30% of revenue and receive credit.
Suppliers
because Tendra relies on long-term certified sustainable Teeland suppliers.
Banks
because Tendra has borrowing.
Other stakeholders become important depending on the scenario.
Frequently asked questions about Tendra Tents stakeholders
Who are Tendra Tents’ main stakeholders?
Important stakeholders include the founder-shareholders/directors, managers, employees, customers, retailers, suppliers, lenders and logistics providers. Government, regulators, tax authorities, local communities and environmental interests may also be relevant external stakeholders depending on the issue.
Who owns Tendra Tents?
Tendra is owned by its three founders, Rhona Velic, Talia Morel and Fredrick Calvern, who are also directors actively involved in running the business.
Who are Tendra Tents’ customers?
Tendra serves different camping needs through its Essential, Explorer and Elite ranges. It sells directly through its website in Teeland and wider Europe and through retailers in Teeland.
Are retailers important stakeholders for Tendra Tents?
Yes. Around 30% of revenue comes through retailers, and those retailers receive 30–60 day credit terms.
Why are suppliers important to Tendra Tents?
Tendra sources raw materials from certified sustainable suppliers in Teeland and has established long-term partnerships to support quality, ethical practices and its sustainability reputation.
Why are employees important to Tendra Tents?
Tendra employed 96 people at 30 June 2026, including 65 at the Production Facility. Because manufacturing is internal, employee productivity, skills and quality can directly affect costs and customer outcomes.
Are banks stakeholders of Tendra Tents?
Yes. Tendra had T$1.1 million of bank borrowing at 30 June 2026, making lenders connected financial stakeholders.
What are the main stakeholder conflicts at Tendra Tents?
Useful conflicts to understand include shareholders versus employees, customers versus margins, Tendra versus suppliers, Tendra versus retailers, dividends versus investment, cost control versus sustainability and growth versus liquidity.
How does Mendelow’s matrix apply to Tendra Tents?
Mendelow’s matrix can be used to assess stakeholders according to power and interest. However, their position should be assessed for the specific decision rather than memorised permanently.
Who are the key players in Tendra Tents?
There is no fixed answer. A key player has high power and high interest in a particular decision. For example, a lender could become a key player in a major borrowing proposal, while a critical supplier could become a key player in a supply-chain decision.
Are customers high power or low power?
It depends on the circumstances. The pre-seen does not assign customers a Mendelow category, so students should justify any classification using the scenario.
Is stakeholder analysis an E1 topic?
Yes. Stakeholder identification, stakeholder conflict and Mendelow’s power-interest matrix have strong E1 links, although stakeholder issues can also create P1 and F1 implications.
How could stakeholders appear in a Tendra Tents OCS question?
A requirement might involve the implications of a business proposal for different groups, conflicting stakeholder objectives, communication, supplier/customer relationships or the financial consequences of stakeholder demands. These are practice possibilities, not exam predictions.
Should I memorise a Tendra Tents stakeholder matrix?
No. Understand the main stakeholders and their likely objectives, but assess power, interest and conflicts according to the specific unseen scenario.
Join our FREE CIMA OCS November 2026 Mini Course and begin your preparation before the pre-seen is released. https://learn.keystoneacademia.com/course/cima-ocs-nov-26-mini-course
Join our CIMA WhatsApp Community https://chat.whatsapp.com/DrL4VTLN3TuGtKujlQfJ4j
Final conclusion
Tendra Tents has a wide stakeholder network.
Internally, there are:
founders/directors + managers + employees
Connected to the business are:
customers + retailers + suppliers + lenders + logistics providers
And the wider external environment can include:
government + regulators + tax authorities + communities + environmental interests
The most important lesson is that these stakeholders do not always want the same thing.
For example:
Customers want value
while
Tendra needs acceptable margins.
Retailers want attractive commercial terms
while
Tendra needs profit and cash.
Suppliers want fair prices and timely payment
while
Tendra wants cost control.
Employees want fair rewards and security
while
management needs productivity and cost control.
Shareholders may value dividends
while
Tendra may need cash for innovation and expansion.
None of these conflicts can be resolved by automatically choosing the cheapest option.
As Tendra’s Finance Officer, your role is to help management understand the trade-offs.
That means providing:
relevant financial information
- commercial analysis
- operational implications
- risk analysis
so management can make informed decisions.
For the OCS, therefore, don’t memorise:
“Customers are connected stakeholders.”
Train yourself to explain:
what the customer wants, how the proposed decision affects them, what they might do in response, what that means financially and operationally for Tendra, and what management should consider.
That is stakeholder analysis at Operational Case Study level.
This is an independent educational analysis for CIMA OCS students. Where stakeholder expectations, power, conflicts or possible future events are not explicitly stated in the pre-seen, they are presented as analysis or practice scenarios rather than facts or predictions of the November 2026 or February 2027 examinations.