chapter 5 stakeholders in a business Flashcards

1
Q

stakeholders

A

individuals or groups who can be affected by, and have an interest in, any action taken by the organisation

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2
Q

external stakeholders

A

individuals or groups who are separate from the business but are affected or interested in its operations

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3
Q

internal stakeholders

A

individuals or groups who work within the business ,or own it, and are affected by the operations of the business

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4
Q

trade union

A

an organisation of working people with the objective of improving the pay and working conditions of its members and providing them with support and legal services

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5
Q

stakeholder concept

A

the view that businesses and their managers have responsibilities to a wide range of groups , not just shareholders (also known as stakeholders theory)

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