Stakeholders

Question 1

What are stakeholders

Answer 1

People and organisations who are affected by the activities of a business.

Question 2

What’s an internal stakeholder?

Answer 2

Internal stakeholders are people or organisations inside the business

Question 3

What are external stakeholders?

Answer 3

External stakeholders are people or organisations outside the business.

Question 4

What do internal stakeholders want from the business?

Answer 4

Owner(s) / shareholders - High profits and a safe investment

Employees, including managers - Good pay, job security and opportunities for promotion

Question 5

What do external stakeholders want from the business?

Answer 5

Suppliers - Fair prices and to be paid on time
Customers - Good quality and to be provided with goods & services
Lenders (banks) - To receive interest and to be repaid
Government (HMRC) - To receive the right amount of tax on time
Local communities - Jobs for local people and no pollution of any sort