1.4 Stakeholders

Question 1

What is a stakeholder

Answer 1

A stakeholder is defined as anyone who has an interest in a business and is affected by the actions of the business

Question 2

Internal stakeholders

Answer 2

Employees
Managers
Directors
Owners

Question 3

External stakeholders

Answer 3

• Shareholders
• Customers
• Local Community
• Government
• Banks / Creditors
• Suppliers
• Trade Unions
• Special Interest Groups

Question 4

Employees roles and objectives

Answer 4

Role: to work in a business in return for wages

Objectives: To have job satisfaction, to have job security so they can pay their bills, to get promoted

Question 5

Owner role and objectives

Answer 5

Role: to start and run a business to make a profit

Objectives: to get a good return on any money they have invested in the business; To make a profit; To survive

Question 6

Customer’s roles and objectives

Answer 6

Role; to buy goods or services from the business

Objectives: to get a good choice of goods or services, to get value for money, to get quality products at low prices, to have the opportunity to buy innovative products