Stakeholders Flashcards
what is a stakeholder
when a person, group or organisation has an interest in how a business runs
what are internal stakeholders
stakeholders from within the business
what are some examples of internal stakeholders
pupils, teachers, head teachers all have an interest in a school
what are external stakeholders
stakeholders from outside the business
what are some examples of external stakeholders
parents, the council and local community have an interest in a school
what is an employees interest in a business
good salary
job satisfaction
good working conditions
job security
what is an employees influence within a business
industrial action (strike, sit in)
what is a managers interest in a business
good salary
bonuses
job satisfaction
responsibility
status
what is a managers influence in a business
decisions hiring staff and products being sold
what is a shareholders influence within a business
want the firm to be profitable
healthy dividends
improved share value
what is a shareholders interest within a business
want the firm to be profitable
healthy dividends
improved share value
what is a shareholders influence within a business
decisions making
vote for certain directors
choose to sell shares
what is a suppliers interest in a business
want the business to be successful to ensure repeat custom
depend on this custom for survival
what is a suppliers influence in a business
change prices
offer discounts
change lead timers
what is a banks interest in a business
ensure cash flow is stable
so they can ensure repayment
what is a banks influence in a business
choose whether to grant or withhold loans
extend or shorten loan repayment period
change interest rates
what is a governments interest in a business
ensure the organisation is abiding by the law
ensure the organisation is paying taxation
what is a governments influence in a business
change legislation
issue bans
set taxation rates
offer or withhold grants and licenses
what is the local communities interest in a business
companies provide jobs for an area
businesses offer goods/services
community cares about the area they live in
what is the local communities influence in a business
can make complaints to local authority
can protest against the company
what is stakeholder interdependence
when and why a stakeholder may need another stakeholder
what are some examples of stakeholder interdependence
Owners need employees to be as productive as they can.
Employees need owners to provide the necessary job training.
what is stakeholder conflict
when disagreements can occur between different stakeholders
what are some examples of stakeholder conflict
Managers may want to close a branch to save on staff wages.
Employees will want to keep their jobs.
