Stakeholders Flashcards
1
Q
Stakeholder
A
Any group or individual with an interest in a business. E.g-customer
2
Q
Conflict management
A
Process of limiting the negative effects of a conflict
3
Q
Trade unions
A
organization of workers who have come together to achieve goals, e.g- improving safety standards with strikes
4
Q
What does a business’ response to a conflict depend on?
A
Amount of power they have in the relationship or amount of influence that stakeholder has
5
Q
Consequences of business failing to respond to stakeholder conflict
A
Bad reputation, other staff striking, loss of shareholder reputation, government prosecution
6
Q
Boycott
A
A refusal to buy goods/services from a business
7
Q
Conflict resolution
A
Dealing with and resolving a disagreement completely
