2.3 Managers, leadership and decision making

Question 1

what is a stakeholder

Answer 1

someone or an organisation interested in/affected by a business’ activites or decisions

Question 2

internal stakeholders 3 and interests

Answer 2

employees - job security, good working conditions and pay
managers
shareholders - capital growth and dividends

Question 3

external stakeholders 5

Answer 3

suppliers - regular orders and on-time payments

banks and lenders

government - employment and payment of taxes

local community - avoidance of pollution and congestion, and employment

customers - good customer service and value for money

Question 4

high power low interest

Answer 4

keep satisfied

Question 5

high power high interest

Answer 5

manage closely

Question 6

low power low interest

Answer 6

monitor

Question 7

low power high interest

Answer 7

keep informed

Question 8

4 influences on the relationship of stakeholders

Answer 8

leadership styles
business objectives
government
state of the economy

Question 9

ways to reduce conflict between stakeholders 3

Answer 9

• stakeholder mapping
• culture of good communication and consultation between them
• careful planning and introduction of decisions