Chapter 3- stakeholders Flashcards
1
Q
Suppliers
A
Are firms from which the business can buy the material inputs or services that are needed in production process
2
Q
Creditors
A
Are those to whom the business owes some money
3
Q
Shareholders
A
Are the legal owners of a business. They may have helped to set up the business or they may have bought shares on the stock exchange
4
Q
Economic agents
A
People/organisations involved in economic activity
5
Q
Stakeholders
A
Anyone with an interest in the activities of a business
6
Q
Corporate social responsibility
A
Involves a business behaving in an ethical way and accepting responsibility for its effects on all its stakeholders including the wider community and the environment
7
Q
internal stakeholders
A
employees
managers
owners
8
Q
external stakeholders
A
suppliers and creditors society govt. shareholders customers
