Stakeholders Flashcards
Who is a Stakeholder?
anyone who is affected by a business.
What makes The Owner a Stakeholder?
they make the profit if the business is successful and decide what happens to the business.
What makes The Employees a Stakeholder?
they are interested in their job security and promotion prospects which are improved if the firm is profitable and growing. Employees most benefit when objectives are based on profitability, growth and ethics.
What makes The Suppliers a Stakeholder?
Firms buy raw materials from suppliers.
They benefit most when firm is set to build profitability and growth.
What makes the Local Community a Stakeholder?
May benefit when objectives are based on minimising environmental impacts, ethical considerations, profitability and growth.
What makes The Government a Stakeholder?
They recieves taxes if firm makes profit. May benefit most when objectives are based on profitability, growth or job creation.
What makes the Customers a Stakeholder?
They want high quality products at low prices. So they benefit when objectives are based on customer satisfaction.
What are the 2 Stakeholders owners will always pay some attention to?
Customers
Employees
Who is an Internal Stakeholder?
someone who works within a business and makes decisions or carrys them out.
Who is an External Stakeholder?
someone who doesn’t work within the business but is affected by its activities.
What is a Shareholders objective as a Stakeholder?
make sure the business is successful and it makes profit.
What is a managers objective as a stakeholder?
wants a good salary and further progression for later on in life.
What is a Employees objectives as a Stakeholder?
Wants a good pay, Job security and job satisfaction.
What is a Customers objective as a Stakeholder?
wants good quality and range of products at reasonable price.
What is a Suppliers objectives as a Stakeholder?
wants to recieve payments on time and regular orders.