3.4.3 Stakeolders

Question 1

Internal stakeholders + aims

Answer 1

Managers (make as much profit)
Employees (good pay/benefits/develop training/promotion)
Shareholders (make profits from their investments/return on investments + increase in dividend)

Question 2

External stakeholders aims

Answer 2

Government (to gain tax/abide by legislation)
Communities (available employment/provision for local needs)
Suppliers (loyalty/fair price/ paid on time)
Competitors (more profit than them)
Pressure groups

Question 3

Shareholders vs stakeholders concept

Answer 3

Shareholders =
make profits
Efficient as possible
Dividends
Growth of busi

Stakeholders =
Reduce pollution
Pay higher wages
Pay more tax
Ethically

These will take away from profit

Question 4

Internal influences on stakeholder relationships

Answer 4

Management + leadership (differing leadership styles will determine how managers view employees)
Objectives (profit objectives will be more aligned with shareholder interests)
Size/ownership (sole trade will not have pressure of meeting shareholder expectations)

Question 5

External influences on stakeholder relationships

Answer 5

Market conditions (demand + comp of a market will change priorities of busi)
Stakeholder power (majority shareholders + key customers will be given greater focus than a stakeholder)
Gov policy (busi will have to meet legal requirements)