3.1.3 - 3.1.4 staekholders Flashcards
stakeholders
Stakeholders are
individuals, groups, or
organisations who have
a vested interest in the
performance and activities
of a business.
owner
Owners are individuals who establish, invest, and have a share in a business, often with the
goal of earning a profit from its operations.
managers
Managers are
individuals who oversee
and coordinate a
business’s employees
and lead its operations
to ultimately achieve the
business’s objectives
employees
Employees are individuals
who are hired by a business
to complete work tasks and
support the achievement of
its objectives.
customers
Customers are individuals
or groups who interact
with a business by
purchasing and utilising its
goods and services.
suppliers
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.
the general community
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.
outline owners vested interest
Establishing and fostering positive relationships with other stakeholders
to enhance business reputation and performance.
Receiving a return on their investment, often through business growth,
in the form of increases in share price, dividends, or profits.
outline managers vested interest
Being recognised for the achievement of business objectives.
Having opportunities to increase their status and engage in career
advancement and promotion.
Receiving bonuses from business owners for achieving business objectives.
Receiving appropriate wages and working conditions that reflect their
managerial role and responsibility within the business.
outline employees vested interest
Provision of long-term job security.
Receiving fair pay and working conditions.
Having opportunities to engage in personal and professional development,
as well as training to advance their careers and receive promotions.
outline vested interest of customers
Receiving high-quality goods and services at affordable prices.
Engaging with businesses that are ethical and sustainable.
Receiving friendly and helpful customer service and assistance.
outline suppliers vested interest
Increasing their revenue.
Earning a profit from the raw materials and resources they supply.
Having reliable and honest relationships with businesses they supply.
outline there general communities vested interests
Observing business activities that lead to improvements in the community
and environment.
Increasing the local employment rate and boosting the local economy.
