Stakeholders

Question 1

What is a stakeholder.

Answer 1

Stakeholders are individuals or groups with an interest in the business.
The level of interest each stakeholder group has depends on the type of business.

Question 2

Examples of stakeholders.

Answer 2

Investors 
Employees 
Owners 
Shareholders
etc

Question 3

Impacts of stakeholders.

Answer 3

The success of the business will affect the number of people employed and how much they earn
Likely to affect local community, congestion and investment etc
The way a business treats its suppliers will affect success - do they pay on time? Fair price? Positive relationships or competition between suppliers?
A business may try and reduce the amount of tax it pays (legally), may decided to pay what it regards as a fair amount of tax even if it could pay ess - affecting government revenue

Question 4

How can stakeholders affect a business?

Answer 4

Negotiation
Direct action
Refusal to cooperate
Voting

Question 5

When dealing with stakeholders businesses think about …

Answer 5

Communication
Are stakeholders well informed
How do they keep them well informed
Involving them in certain decisions