test 2 Flashcards
1
Q
Who are the stakeholders in a business (8)
A
Customers
Owners
Suppliers
Employees
Manager
Government
Banks
Local community
2
Q
What’s an employees interest (3)
A
- High rate of pay/ bonuses
- Good working conditions
- Job security
3
Q
What’s a customers interest (3)
A
- High quality product/ service
- Affordable prices
- Good after sales service
4
Q
What’s an owners interest (3)
A
- High profits
- High return on their investments e.g. dividends
- Growth of the business
5
Q
What’s an Local Community interest (2)
A
- Creations of jobs
- For the business to act in a socially responsible manner
6
Q
What’s an suppliers interest (2)
A
- Regular orders
- Prompt payment
7
Q
What’s an government interest (2)
A
- Creation of jobs
- Payment of taxes
8
Q
What’s a banks interest (1)
A
- Ability to meet loan/ mortgage repayments
9
Q
What’s a suppliers influence on a business (3)
A
- Period of credit offered (if any)
- Reliability in terms of delivery and the quality and quantity of goods sold
- Prices charged
10
Q
What’s an owners influence on a business (3)
A
- Invest more money in the business
- Withdraw investment e.g. sell shares
- Influence decisions at the AGM (Annual General Meetings)
11
Q
What’s a governments influence on a business (3)
A
- Increase the rate of tax
- Introduce changes to legislation
- grant planning permission
12
Q
What’s a customers influence on a business (2)
A
- Choose to shop somewhere else
- provide feedback- positive and negative reviews
13
Q
What’s an employees influence on a business (2)
A
- Standard of work produced
- Can take industrials actions e.g. strikes
14
Q
What’s a local Community’s influence on a business (2)
A
- Can complain to the local community
- Can protest e.g. writing to the local press
15
Q
What’s a banks influence on a business (2)
A
- Grants or refuse loans
- Interest rate changed on loans
