Industrial Sectors/ Stakeholders

Question 1

Businesses Operate in Certain industrial sectors - the size and nature of the industrial sectors has a significant impact on the objectives of a business.

Answer 1

Main industrial sectors of the UK:
>Primary- Declining in the UK
>Secondary- Also in decline
>Tertiary- increasing, mainly in retail
>Quaternary- increasing, digital sector

Question 2

Public Sector
>Lesser consequences
>Fixed salary
>Not financially responsible for government employees

Funded by the government through peoples taxes.
Main aim is to provide a service.

Answer 2

Private Sector
>Bigger risks
>Depends on sales
>Accounts for employees

Self-funded by private individuals
The aim is maximum profit

Question 3

Stakeholders- Someone interested in the behaviour or performance of a business

Direct Stakeholders- Someone who is affected by the performance of the business

Indirect Stakeholders- Someone who has an interest in the business based on how it behaves

Answer 3

Examples:
>Government and local businesses
>Advertise- Jobs
>Loans and Finance
>Transport links
>Training/ Education
>Legal help
>Advice