1.5 Stakeholders Flashcards

1
Q

Stakeholders

A

An individual or group of people that have an interest in a business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Types of stakeholders

A

Primary/ internal stakeholders
Secondary/ external stakeholders
Key stakeholders

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Primary/ internal stakeholders

A

-People or groups that the harness wants to look after
- They are internal to the business and are directly effected by the businesses decisions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Secondary/ external stakeholder

A
  • Outsiders who consider themselves as stakeholders even if the organisation may not
  • They are external to the business and are indirectly affected by business decisions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Conflicting objective and overlapping needs

A
  • This is when different people attached to the business have different objectives
  • This could cause conflict
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Effects the government can have on a business (3p)

A

Change taxation levels
Giving grants to businesses and organisations
Changing laws

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Changing taxation levels

A

-If business tax increases, the business will have less money for expansion
- if income tax increases, customers have less money to spend

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Giving grants to businesses and organisations

A

This helps businesses to establish themselves when they might not have exceeded

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

A grant

A

A sum of money given to a business by the government for a particular purpose

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Benefit of government spending

A

Increases business activity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Changing laws

A

A business may need to pay the necessary amount required by law, and this may cause businesses some difficulty

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Difference between internal and external stakeholders

A
  • Internal stakeholders are the owners and people who work in the business
  • External stakeholders are outside the business (like customers, suppliers, etc.)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Difference between stakeholders and shareholders

A

-A stakeholder can be anyone who has an interest in the business
- Shareholder has shares in the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Why are shareholders considered stakeholders as well?

A
  • Shareholders also have an interest in the business because they have invested money into it
  • They expect a dividend
How well did you know this?
1
Not at all
2
3
4
5
Perfectly