1.5 Understanding external influences

Question 1

what are examples of stakeholders and what they need?

Answer 1

owners - wants profit and a return on investment
managers - wants bonuses and long term success
pressure groups - wants to influence business decisions
employees - wants good pay and working conditions
customers - wants value for money
local community - wants local investment and limited pollution
government -wants low unemployment and competitive market
suppliers - wants regular offers

Question 2

what is a stakeholder?

Answer 2

an individual or a group that has an interest in and is affected by the activities of a business