Stakeholders Flashcards
What are 11 stakeholders
Customers Employees Shareholders Suppliers Managers Government Creditor Financier Local community Pressure group Owners
Define stakeholder
A person or group who have an interest in the activities of a business
What is the objective of customers
To have the satisfaction of the service or product provided
What is the objective of an employee
Job satisfaction
Job security
Good working conditions
Opportunities
What is the objective of a shareholder
To receive as much dividends as possible
What is the objective of a supplier
For business to grow so there is a increased demand in supply of materials so suppliers gain more revenue
What is the objective of a manager
Good working conditions
Possible shares in business
Job satisfaction and security.
What is the objective of the government
Tax revenues to go up
Overseas relationships to become better by trading
Unemployment levels to decrease so less social security is paid out
What is the objective of a creditor
Prompt payments
What is the objective of a financier
To get back interest upon the money loaned
What are the objectives of local community
To gain social benefits like Jobs Crime levels to go down Prices of houses to go up But Social costs may occur like Pollution in air and noise May disrupt beauty of an area
What is the objective of a pressure group
To make the business trade ethically
What is the objective of an owner
Survive
As much profit possible
Independence
Define Conflicts between stakeholders
It’s where the two objectives of the stakeholders oppose one another
E.g. Owner wants as much profit possible so uses sweatshops
But pressure groups want to trade ethically
How can a conflict be overcome
If the business if flexible and adaptable
