1. Stakeholders Flashcards
What are stakeholders?
people who have an interest in or may be affected by a business
What are shareholders?
people who have a financial investment in a company
they are interested in the profits made by the business
How much influence does an owner have?
they have a significant influence - make the important decisions and control activities
How much influence does an owner have?
they have a significant influence - make the important decisions and control activities
Why are managers invested in a business?
-job security
-better pay and working conditions
-good promotion prospects
What influence managers have on a business?
-making the right decisions
-making the best use of the resources
What do employees want from a business?
-job security
-better pay and working conditions
-good promotions prospects
What influence does employees have on a business?
-threatening or taking industrial action such as striking or working to rule
-working efficiently to make the business successful
What do suppliers want from a business?
-more orders from the business
-to be paid promptly for goods supplied
What influence does suppliers have on a business?
-changing prices of raw materials
-changing periods of credit given to customers
-changing discounts given to customers
What do customers want from a business?
-value for money
-high quality product/service
-good after sales service
What influence does a customer have on a business?
-not buying the firms products
-changing over to another supplier
What does a government want from a business?
-keep within the law\
-pay its taxes
-provide employment
What is the governments influence on a business?
-bringing in new laws
-raising tax or interest laws
-setting up bodies to regulate the business
What does the community want from a business?
-the business to treat the environment properly
-workers to be treated fairly
-customers not to be exploited
What influence does the common city have on a business?
-putting pressure on businesses through action groups
-highlighting what is wrong
-holding demonstrations
What do banks/lenders want from businesses?
to ensure a business applying for a loan or with an existing loan has enough funds (money) to make their agreed repayments
What influence do banks/other lenders have on a business?
-granting or not granting loans
-setting loan interest rates
-requesting early repayment of loans if their ability to pay in in doubt
What do charity donors want from businesses?
corporate donors will want a charity that they donate to be successful as it may provide the will good public relations
What influence does charity donors have on a business?
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
What do taxpayers want from businesses?
to ensure that their taxes are used effectively and not wasted
what influence do taxpayers have on a business?
by voting for political parties at national and local government elections
what influence do taxpayers have on a business?
by voting for political parties at national and local government elections
What is stakeholder independence?
when one group of stakeholders are reliant on another
