1c- stakeholders and CSR

Question 1

Stakeholder

Answer 1

individuals or groups that have a vested interest in the performance and activities of a business.
- either internal or external

Question 2

Internal stakeholders

Answer 2

Groups who have direct financial share or are employed by the business including owners, board of directors, investors, shareholders and employees.

Question 3

External stakeholders

Answer 3

Groups that are outside a business but are concerned or affected by it’s activities including customers, suppliers and general community.

Question 4

Stakeholder conflicts

Answer 4

all stakeholders have potential to benefit from a business performing well. However now a business archives it’s goals can conflict with vested interests of multiple stakeholders.

Question 5

SCR considerations for stakeholders

Answer 5

CORPERATE SOCIAL RESPONSIBALITIES(SCR) is the ethical conduct of a business beyond it’s legal obligations to improve the social, economic and environmental outcomes of stakeholders