1C - Stakeholders

Question 1

Stakeholders

Answer 1

Stakeholders are individuals, groups, or organisations who have a vested interest in the performance and activities of a business.

Question 2

Owners

Answer 2

Owners are individuals who establish, invest, and have a share in a business, often with the goal of earning a profit from its operations.

Question 3

Managers

Answer 3

Managers are individuals who oversee and coordinate a business’s employees and lead its operations to ultimately achieve the business’s objectives.

Question 4

Employees

Answer 4

Employees are individuals who are hired by a business to complete work tasks and support the achievement of its objectives.

Question 5

Customers

Answer 5

Customers are individuals or groups who interact with a business by purchasing and utilising its goods and services.

Question 6

Suppliers

Answer 6

Suppliers are individuals or groups that source raw materials, component parts, and processed materials and sell them to a business for use in the production of its goods and services.

Question 7

General Community

Answer 7

The general community is the individuals and groups who are impacted by a business’s operations and decisions, often because they are located in close proximity to the business.