1.4 Stakeholder

Question 1

Customers

Answer 1

clients of a business. As a key external stakeholder group, customers seek to have value for money, such as competitive prices and good quality products

Question 2

Directors

Answer 2

senior executives who have been elected by the company’s shareholders to address business activites on behalf of their owners

Question 3

Employees

Answer 3

staff of an organization. They have a stake (an investment and involvement) in the organization they work for

Question 4

External stakeholder

Answer 4

individuals and organizations not part of the business but have a direct interest in its activites and performance. (eg. customers, suppliers and government)

Question 5

Internal stakeholder

Answer 5

members of the organization, namely the employees, managers, directors and shareholders (owners) of the business

Question 6

Pressure group

Answer 6

individuals with a common concern who seek to place demands on organizations to act in a particular way or to influence a change in their behaviour

Question 7

Shareholder

Answer 7

owners of a limited liability compnay. Shares in a company can be held by individuals and other organizations

Question 8

Stakeholders

Answer 8

individuals or organizations with a direct interest in the activites and performance of a business, such as shareholders, employees, customers and suppliers

Question 9

Stakeholder conflict

Answer 9

differences in the varying needs and priorities of the various stakeholder groups of a business