1.5.1 Stakeholders Flashcards
Stakeholder
Any person, group of people or other organisation that has an interest in the activities of a business
Internal Stakeholders
Work inside a business either making or carrying out business decisions
External Stakeholders
Do not work within a business but are affected by its investors
Types of Stakeholders
Shareholders and owners - internal
Managers - internal
Employees - internal
Customers - external
Suppliers - external
Local community - external
Pressure Groups - external
Competitors - external
Government - external
What are the objectives of shareholders and owners as stakeholders
Profit
What are the objectives of managers as stakeholders
Good salary and opportunities for career progression
What are the objectives of Employees as stakeholders
Good pay, job satisfaction and security, career progression
What are the objectives of customers as stakeholders
good quality and large range of products at a good price
What are the objectives of suppliers as stakeholders
Recieve payments on time and have regular orders with the hope of more units being purchased
What are the objectives of local community as stakeholders
May want opportunities to work and want an ecofriendly environment
What are the objectives of pressure groups as stakeholders
They want increased knpwledge of their cause
What are the objectives of governments as stakeholders
Create more jobs and get more taxes
What are the objectives of competition as stakeholders
Cooperation
Stakeholder conflict
When two or more stakeholders have views from which cannot happen at the same time
