1. Stakeholders

Question 1

What are stakeholders?

Answer 1

people who have an interest in or may be affected by a business

Question 2

What are shareholders?

Answer 2

people who have a financial investment in a company
they are interested in the profits made by the business

Question 3

How much influence does an owner have?

Answer 3

they have a significant influence - make the important decisions and control activities

Question 3

How much influence does an owner have?

Answer 3

they have a significant influence - make the important decisions and control activities

Question 4

Why are managers invested in a business?

Answer 4

-job security
-better pay and working conditions
-good promotion prospects

Question 5

What influence managers have on a business?

Answer 5

-making the right decisions
-making the best use of the resources

Question 6

What do employees want from a business?

Answer 6

-job security
-better pay and working conditions
-good promotions prospects

Question 7

What influence does employees have on a business?

Answer 7

-threatening or taking industrial action such as striking or working to rule
-working efficiently to make the business successful

Question 8

What do suppliers want from a business?

Answer 8

-more orders from the business
-to be paid promptly for goods supplied

Question 9

What influence does suppliers have on a business?

Answer 9

-changing prices of raw materials
-changing periods of credit given to customers
-changing discounts given to customers

Question 10

What do customers want from a business?

Answer 10

-value for money
-high quality product/service
-good after sales service

Question 11

What influence does a customer have on a business?

Answer 11

-not buying the firms products
-changing over to another supplier

Question 12

What does a government want from a business?

Answer 12

-keep within the law\
-pay its taxes
-provide employment

Question 13

What is the governments influence on a business?

Answer 13

-bringing in new laws
-raising tax or interest laws
-setting up bodies to regulate the business

Question 14

What does the community want from a business?

Answer 14

-the business to treat the environment properly
-workers to be treated fairly
-customers not to be exploited

Question 15

What influence does the common city have on a business?

Answer 15

-putting pressure on businesses through action groups
-highlighting what is wrong
-holding demonstrations

Question 16

What do banks/lenders want from businesses?

Answer 16

to ensure a business applying for a loan or with an existing loan has enough funds (money) to make their agreed repayments

Question 17

What influence do banks/other lenders have on a business?

Answer 17

-granting or not granting loans
-setting loan interest rates
-requesting early repayment of loans if their ability to pay in in doubt

Question 18

What do charity donors want from businesses?

Answer 18

corporate donors will want a charity that they donate to be successful as it may provide the will good public relations

Question 19

What influence does charity donors have on a business?

Answer 19

they can influence by giving or not giving donations. Also donors of large sums may wish to specify the use to which their donation is put

Question 20

What do taxpayers want from businesses?

Answer 20

to ensure that their taxes are used effectively and not wasted

Question 21

what influence do taxpayers have on a business?

Answer 21

by voting for political parties at national and local government elections

Question 22

what influence do taxpayers have on a business?

Answer 22

by voting for political parties at national and local government elections

Question 23

What is stakeholder independence?

Answer 23

when one group of stakeholders are reliant on another