Stakeholders - Interests and influence Flashcards
What is a stakeholder?
A stakeholder is an individual or group of people who have an interest in the success of an organisation.
Where are internal stakeholders?
Internal stakeholders are from within the organisation, such as owners (or shareholders), managers and employees.
Where are external stakeholders
External stakeholders are from outside the organisation, such as the government, banks, customers, suppliers, pressure groups, and HMRC (the government organisation responsible for collecting taxes).
What are owners interest?
Profits in order to see a return on their investment.
What are owners influence?
Can invest more money.
Can make important decisions.
What are managers interest?
May be given bonuses, pay rise or promotions based on the organisation’s performance.
what are managers influence?
Can make decisions.
What are employees interest?
Want job security and perhaps a pay rise.
What are employees influence?
Can affect standard of work.
Can take industrial action.
What are customers interest?
Demand a quality product/service and value for money.
What are customers influence?
Can take their custom elsewhere.
Can spread good/bad word to others.
What are suppliers interest?
Want continued business and the business to pay its debts.
What are suppliers influence?
Can change prices.
Can adjust the quality of supplies.
Can change account terms.
