Business Stakeholders Flashcards
1
Q
What are Stakeholders
A
-They are people who have a interest in the business
2
Q
Who could be a Stakeholder
A
-Employees, Manager’s ,owners
-Suppliers , The local community,Customers
3
Q
who could be a internal Stakeholder
A
-Employees, Manager’s ,owners
4
Q
who could be a external Stakeholder
A
-Suppliers , The local community,Customers
5
Q
Name 4 ways a Stakeholders could be at conflict
A
- Increasing prices -this means customers won’t be happy
- Switching to Ethical Suppliers-This means Suppliers wont Be Happy
- Introduce automation -This means that employees won’t be happy
- increase dividends- This means that employees won’t be happy
6
Q
why could increasing prices be bad for the business
A
- Because Then customers would buy from a cheaper business possibly competitors
7
Q
Why would switching to ethical supplers be bad for the bussiness
A
- Because suppliers wont be happy and wont supply to that business again
