Effects of Changes on stakeholders

Question 1

who are the stakeholder affected?

Answer 1

owners
managers
employees
suppliers
customers
generql community

Question 2

Owners

Answer 2

the extent to which an owner is affected by the change will depend upon their involvment in the management or daily operations of the business.

–> Sole Trader or partner are likelt to be directely impacted

Question 3

managers

Answer 3

indivuals with the rpesonsbility to implement change.

-They need to make decisions and owner accountability of the new stratgies they have implmented.

Question 4

Employees

Answer 4

are the ppl who ARE THE MOST IMPACTED BY CHANGE,. They need to adjust to different ways of doing things

-sometimes struggles to understand the reason behind the change and why.

Question 5

Customers

Answer 5

better meeting customers expectations is often for the business change.

-alternativly, change can cause inconvenience to customers as they adjust to new products, prices or business operations.

Question 6

Suppliers

Answer 6

partly responsible for providing busienss with their inputs.

-any changes to a business production methods will likely impact suppliers in terms of –> changed inputs, changed quatities or delivery loactions and timeframes.

Question 7

General community

Answer 7

they are residents, ywon and suburbs that provide employees for business and live near the busines premises.

Business change often impact on local coommunity if factories are closed or relocted or hrs of operations are changed.