stake holders

Question 1

what are stakeholders ?

Answer 1

individuals and groups who have a stake in the running of the organization

Question 2

who internal stake holders ?

Answer 2

employees , owners , managers

Question 3

who are external stakeholders ?

Answer 3

customers , suppliers , government

Question 4

how does a business affect stakeholders ?

Answer 4

• staff : as the business grows ,greater production which results in more jobs and higher wages
• suppliers : growth means more orders and greater profits
• share holders : rising profits will result in a share value rise

Question 5

what are the conflicts of share holders ?

Answer 5

• workers v managers and share holders :
• workers want higher pay
• workers want better working conditions
• managers and share holders may not want this as it increases costs
• management v suppliers : manage want to pay less for its suppliers of raw materials as this keeps costs down, while suppliers want higher prices for their product to make profit