3.1.4 stakeholders Flashcards
1
Q
what are stakeholders
A
Definition: a person or a group that has an interest in an organisation- they can affect or be affected by the organisation
2
Q
main stakeholder groups are
E
O
G
S
L
C
A
- employees
- owners
- government
- suppliers
- local community
- customers
3
Q
Main objective of an owner
A
- Want the business to do well so a profit can be made so they get a biggger dividend and high share price
4
Q
Main objectives of employees
A
- Job security
- decent wage
- good working conditions
- decent working hours
5
Q
Main objective of suppliers?
A
- Want businesses to continually buy raw materials and supplies from them to make a profit
- businesses to pay on time
6
Q
Main objectives of the local community
A
- Minimal noise & air pollution
- Businesses provides jobs for them
- mimmal environmental damage and ethics
7
Q
Main objectives of the customers
A
- High quality products
- low/affordable prices
- customer satisfaction
8
Q
Main objective of the government
A
- Receive taxes
*
9
Q
What is stakeholder conflict
A
When stakeholders have conflicting opinions for example, owners want to maximise profit which may mean lowering wages but employees want to have good wages so there’s a conflict
