1.4 Stakeholders

Question 1

stakeholder

Answer 1

any individual or group that affects, or is affected by, an organisation

Question 2

internal stakeholder

Answer 2

directly involved inside organisation

Question 3

managers

Answer 3

run organisation

Question 4

employees

Answer 4

work for company

Question 5

shareholders

Answer 5

owners of company

Question 6

internal stakeholders list

Answer 6

managers
employees
shareholders

Question 7

external stakeholders

Answer 7

not directly involved inside organisationc

Question 8

customers

Answer 8

purchase products of business

Question 9

suppliers

Answer 9

sells goods/services to organisations

Question 10

governments

Answer 10

protect public interest

Question 11

labour unions

Answer 11

protects workers rights and livelihoods

Question 12

banks

Answer 12

ensure loans are paid back

Question 13

society

Answer 13

holds business accountable

Question 14

pressure groups

Answer 14

influence actions of businesses related to social or environmental causes

Question 15

external stakeholders (list)

Answer 15

customers
suppliers
government
labour unions
banks
society
pressure groups

Question 16

managers and employee conflict + solution

Answer 16

managers want to maximise productivity and employees want to work with less stress
solution: performance-related pay

Question 17

shareholder and manager conflict + solution

Answer 17

shareholders want to maximise profits and managers want to reinvest
also, managers want to look after personal interests before shareholders’
solution: stock options to buy shares to managers

Question 18

shareholders and government conflict

Answer 18

government wants taxes to be paid and shareholders want to minimise taxes

Question 19

local community and shareholders conflict

Answer 19

shareholders want to maximise returns on investment and local community wants sustainability

Question 20

managers and union conflict

Answer 20

managers want to oppose unions’ intervention in manager-employee relations

Question 21

customers and suppliers conflict

Answer 21

customers want high quality and low price, while suppliers want to be paid fairly

Question 22

pressure groups and employees conflict

Answer 22

pressure groups may want to oppose certain projects which provide employment