stakeholders Flashcards
Stakeholders
a category of people with a vested interest in the businesses performance. have the potential to benefit from a business
internal stakeholders
within the business eg staff
external stakeholders
outside the business eg local community (doesn’t directly impact them)
INTERNAL STAKE HOLDERS (2)
managers, emplyees
INTERNAL STAKE HOLDERS (2)
Managers
in charge of the entire business or area of management, role is to coordinate employees and tasks to achieve bus objectives.
Vested interest = pay that matches responsibility
= status and recognition
= opportunities for career advancement
INTERNAL STAKE HOLDERS (2)
Employees
works for the business completing allowed tasks for pay, role is to complete businesses tasks.
VESTED INTEREST = fair pay & working expectations
= opportunities for prof development
= long term job security
EXTERNAL STAKE HOLDERS (DIRECT DIRECTION) 2
customers and suppliers
EXTERNAL STAKE HOLDERS (DIRECT DIRECTION) 2
Customers
purchase goods or services, role is to purchase products.
VESTED INTEREST = products that are of quality or value for money
= safe service/product
= service/product reflects personal values
EXTERNAL STAKE HOLDERS (DIRECT DIRECTION) 2
Suppliers
sell raw materials and resources to businesses
VESTED INTEREST = earn a profit by selling supplies on time
EXTERNAL STAKE HOLDERS (INDIRECT DIRECTION) 1
general community
EXTERNAL STAKE HOLDERS (INDIRECT DIRECTION) 1
General Community
do not directly interact with the business but are impacted by the businesses activities, role is to observe the impact of a businesses oppositions
VESTED INTEREST = activities that improve the community snd environment
INTERNAL STAKE HOLDERS (INTERNAL INTERACTION) 2
owners. shareholders
INTERNAL STAKE HOLDERS (INTERNAL INTERACTION) 2
Owners
full or part ownership of business. role is ton invest funds
VESTED INTEREST = fulfilment of business vision
= return on investment through profit
INTERNAL STAKE HOLDERS (INTERNAL INTERACTION) 2
Shareholders
invested in the organisation in return for part ownership. role is to invest funds
VESTED INTEREST = return on investment through dividends or increased share price
