Business stakeholders

Question 1

Stakeholder-

Answer 1

-individual who has an interest in the business in the activities and decision making

Question 2

Types of stakeholders (11)

Answer 2

1. Shareholders/owners
2. Managers/employees
3. Customers
4. Suppliers
5. Banks/finance providers
6. Media
7. Trade unions
8. Government
9. Local community
10. Other external groups
11. Competitors

Question 3

Stakeholders vs shareholder

Answer 3

Stakeholders have interest in the business, shareholders own the percentage in business, get income from the business

Question 4

Internal stakeholders (2)

Answer 4

1. Employees
2. Shareholders/owners

Question 5

External stakeholders (3)

Answer 5

1. Competitors
2. Government
3. Society

Question 6

Connected stakeholders (3)

Answer 6

-by relationship based on contract

1. Customers
2. Suppliers
3. Creditors

Question 7

Objectives for shareholders/owners (3)

Answer 7

1. Return on investment + profit
2. Success and growth
3. Proper running of business

Question 8

Objectives of managers/employees (3)

Answer 8

1. Rewards (financial)
2. Job security/work conditions
3. Promotion

Question 9

Objectives of customers (3)

Answer 9

1. Value for money
2. Product quality
3. Customer service

Question 10

Objectives of suppliers (2)

Answer 10

1. Profitable trade
2. Financial stability

Question 11

Objectives of banks, other financial providers (2)

Answer 11

1. Cash - flow
2. Growth in profits

Question 12

Objectives of government (3)

Answer 12

1. Taxes
2. Creating jobs
3. Compliance with business legislation

Question 13

Objectives of local community (2)

Answer 13

1. Success of business
2. Compliance with local laws

Question 14

Objectives of pressure groups (2)

Answer 14

1. Acting honestly
2. Best interests of customers