Stakeholders Flashcards
Define stakeholders,
Anyone with an interest or concern in a business and how it operates
List one aspect of internal stakeholders.
- Have a direct relationship with the core operations of the business
What are some examples of internal stakeholders?
- Owners
- Managers
- Employees
What are the interests of an owner?
To maximise profits as well as any other goals that they might have
What are the interests of managers and employees?
To stay employed and paid
List one aspect of external stakeholders.
- Does not directly work for a business but is affected by the actions or outcomes of the business
What are some examples of external stakeholders?
- Consumers
- Suppliers
- Investors
- The Community
- The Government
What are the interests of consumers?
They want good products and services
What are the interests of suppliers?
They want the business to continue making purchases
What are the interests of investors?
They are concerned about earnings from their investment
What are the community’s interests?
For the business to contribute positively
What are the government’s interests?
They are interested in the legal requirements being met?
