Influences in the business environment: Stakeholders Flashcards
What are stakeholders?
stakeholders is any group or individual who has an interest in or is affected by the activities of a business.
What are the main stakeholders in a business?
customers, employees, shareholders, managers, society, environment.
How are customers stakeholders?
buy goods and services, need should be considered
How are employees stakeholders?
employees produce and manufacture the products that the business will sell. employees will influence the quality of a product depending on their skills and commitment.
How are shareholders stakeholders?
Shareholders are those who have purchased shares in the business/company. they directly affect and influence business as they have direct voting rights to any major business decisions.
How are managers stakeholders?
Managers influence organisational policies and procedure, as well as employee productivity as they are responsible for the running and structure of the business.
How is society stakeholders?
Society expects businesses to act in a socially responsible manner, meaning social expectations majorly impacts what will sell and what won’t.
How is environment stakeholders?
There has been a growing pressure for business to adopt new ecologically sustainable methods and ways of production for their business. This pressure is a result of responding to rising concerns of climate change and the sustainability of our planet for the future.
