Stakeholder Groups Flashcards
what are shakeholders of a business?
employees/staff customers suppliers creditors local community lenders government sharholders/owners
what are shareholders/owners?
seen as the most powerful stakeholder group
they want to see costs low or high prices being charged in order to allow for high profits
they want a
what are emplyees intrests in the business?
job security
good working conditions
high levels of pay
promotional oppourtunities
job enrichment
customers interest in the business?
they want high quality products
services at low prices
good service
wide choice
suppliers interests in the business
want firm to provide regular orders
propmpt payments
steady growth
leading to more orders in future
pressure groups interest in business
ensure employees are treated fairly
negociate best pay and conditions for the members
want to see business succed so emplyee keep jobs
lenders interest in business
is concerned if firm is taking in too much debt and might stuggkle to make ends meet
concerened that business they lend money to will be able to repay plus interest
goverentment interest in business
wants to ensure the business are doing well so that it can recieve high levels of revenue in form of taxation
see business expanding so that unemployment decreases and pay fewer welfare benefits
reasons why businesses use social media
to keep informed
inform customers
promotion tool to achieve competitive advantage
monitor attention product/serviec gets
customer reviews
keeping up to date with governmnet affairs
community engagment
to attract staff
greatly increased outreach
