Stakeholders - UB Flashcards
Who are the internal stakeholders?
- managers
- shareholders
- employees
- owners
Who are the external stakeholders?
- pressure groups
- bank
- suppliers
- local community
- government
- customers
- donors (charity)
What is the owners interest and want?
Interest:
- make a profit
-receive high dividends
Influence:
- investing or withdrawing equity into the business
- changing managemen
What is the managers interest and influence?
Interest:
- get promoted
- win bonuses
- have job security
Influence:
- hiring and firing
- creating company policies
- making day-to-day decisions and long term decisions
What is an employees interest and influence?
Interest:
- job security
- higher pay
- improved working conditions
Influence:
- increasing or decreasing productivity
- providing good or bad customer service
- in extreme cases, withdrawing their labour and going on strike
What is the customers interest and influence?
Interest:
- quality products and services
- low prices
- value for money
Influence:
-deciding whether or not to purchase the product or use the service
- affecting the organisation’s reputation by word of mouth
What is the banks interest and influence?
Interest:
- ensure the organisation can pay their loans in full and on time
Influence:
- permitting or denying loan requests
- changing interest rates on loans offered
- changing repayment lengths
What is the governments interest and influence?
Interest:
- to pay corporation tax
- to create jobs and wealth for the population
- to provide goods and services for the population
Influence:
- raising or lowering corporation tax
- introducing or repealing laws that affect businesses
- offering grants to incentivise firms to locate to
disadvantaged areas
What is a suppliers interest and influence?
Interest:
- regular orders from their customers (the other businesses)
- prompt payment
Influence:
- raising or lowering prices of goods
- changing credit terms
- changing delivery times
- increasing or decreasing the quality of their goods/materials
What is the local communities interest and influence?
Interest:
- firms to bring jobs to the area
- a good, safe environment to live in
- good transport and communication links
Influence:
- protesting and petitioning if unhappy at an organisation’s conduct
What is a stakeholder?
A stakeholder is an individual, group or organisation that has an interest in the success of a business; they can also take actions or make decisions which will influence how the business operates or how successful the business can be.
