stakeholders Flashcards
1
Q
who are the three internal stakeholders?
A
- owners/shareholders
- managers
- employees
2
Q
who are the five external stakeholders?
A
- local community
- customers
- suppliers
- bank
- government
3
Q
how can managers and employees conflict?
A
- managers seek high profits
- employees demand for higher wages
4
Q
how can managers and suppliers conflict?
A
- managers may want to pay for goods later to improve cash flow
- suppliers will want payment as soon as possible to protect their own cash flow
5
Q
how can managers and customers conflict?
A
- managers want the highest profit possible on sales
- customers want low prices for high quality goods
6
Q
how can employees and the government conflict?
A
- employees want a low rate of income tax
- government may wish to raise it
7
Q
how can customers and employees conflict?
A
- customers want longer opening hours
- employees want to spend more time with their families
8
Q
how can suppliers and the local community conflict?
A
- suppliers want to deliver early in the morning as it is most convenient for them
- local community dont like the noise disruption and complain
9
Q
how are managers and suppliers interdependent?
A
- managers need suppliers to provide them with high quality stock
- suppliers need managers to buy supplies from them to keep them in business
10
Q
how are owners and employees interdependent?
A
- owners need employees to work hard for them to help satisfy customers and increase sales
- employees need owners to provide them with fair wages and good working conditions
11
Q
how are customers and owners interdependent?
A
- customers need owners to provide them with the goods and services they require
- owners need customers to buy their products
