Chapter 5, Stakeholders Flashcards
1
Q
Stakeholders
A
a person or party with an interest in the success of a business
2
Q
Examples of Stakeholders
A
- Employees
- Suppliers
- local community
- Owners
- Customers
- Lenders
3
Q
Objectives of Employees
A
- Good wages
- Job security
- Job satisfaction
- Promotion Prospects
4
Q
Objectives of Suppliers
A
- Regular orders
- Prompt Payment
5
Q
Objectives of Local community
A
- Jobs
- Community involvment
- Responsabile attitude
- Local enviroment
6
Q
Objectives of Owners
A
- Return on investment
7
Q
Objectives of Customers
A
- good quality
- Low prices
- Safe products
- Innovation
- Good customer service
8
Q
Objectives of Lenders
A
- Repayment of debt
9
Q
Private Costs and Benefits
A
costs that a business pays and the benefits it gets from it activities
10
Q
Social Costs and Benefits
A
the overall, or ‘true cost’ of a business activities, taking into account external costs and benefits, as well as private ones
