Stakeholders

Question 1

stakeholders

Answer 1

person, group, organisation with vested interest in performance, behaviour and conduct og a business

Question 2

Employees (internal)

Answer 2

provide labour producing G/S in exchange for wage
interest= high wage, safety, job security
impact= financial cost and benefit

Question 3

managers (internal)

Answer 3

direct business and employees on behalf of owners and directors, towards achieving objectives
interest= receive recognition, through job security, financial rewards and opportunity
impact= improved business success and achievement of objectives

Question 4

owners/ directors (internal)

Answer 4

have overall responsibility for managing business direction
interst= long term success and ROI
Impact= owners- ability to invest capital (grow/expan)
directors- ability to create strategic plan and excecute it

Question 5

General community (external)

Answer 5

interest= employment, sponsors of local clubs and donations
impact= if no relationship w community, they dont get as much business

Question 6

Customers (external)

Answer 6

purchase G/S to satisfy their needs
interest= to be provided with a high quality G/S at reasonable prices
impact= business benefits when buy G/S

Question 7

Suppliers (external)

Answer 7

provide business with the resources/raw materials used in production
interest= sell large quanity at a high price w prompt payments and loyalty

Question 8

Conflicts

Answer 8

hard to please all stakeholders
(dif. interests)

Question 9

TO manage

Answer 9

1) type of organisation
-public= shareholders
-SE= community
-ST= profits
2) aims and objectives
3) power and influence of stakeholders
- public<customers<private