Stakeholders Flashcards
What are stakeholders
Individuals or groups who are interested in or affected by the actions of a business
Examples of internal stakeholders
- employees
- shareholders
- management team
Examples of external stakeholders
- suppliers
- customers
- creditors
- local community
- government
Examples of different stakeholders groups
- owners
- employees
- managers
- suppliers
- local community
- government
- shareholders and investors
- customers
What makes an owner
Person who started or established the business or a company who has taken over the business
What makes an employee
Work inside the business and interested in the business
What makes a manager
Work inside the business and In charge of employees
What makes a supplier
Interest in the business, want to know if they will get paid for goods and services, interested in building a relationship with the business
what makes local community interested in a business
interested in the business due to polluting environment, may cause noise and concerned about the impact on house prices
What makes the government interested in a business
Want to know that they will pay there taxes and adhere to laws
Why are shareholders and investors interested in the business
Want to know if a profit will be made and if they’ll be paid a dividend
what are shareholders in a private limited company
May be friends or family of the owners
What are shareholders in a public limited company
Can be anyone
Why are customers interested in the business
They want to know they can get quality products and good customer service at low prices that satisfy there needs
What are primary stakeholders
Those that are directly affected by the actions of a business e.g customers and employees
