Theme 3 Topic 11 - Shareholders vs Stakeholders Flashcards
1
Q
Define Stakeholders
A
A person, group or organisation who can affect or be affected by the organisations actions, objectives and policies
2
Q
What are three internal stakeholders?
A
Business owners, Employees, Managers & directives
3
Q
What are seven external stakeholder?
A
Shareholders, Customers, Creditors, Suppliers, Local community, Government, Environment
4
Q
Define Stakeholder Approach
A
Some businesses consider the objectives of a wider group of stakeholders when making decisions
5
Q
Define Shareholder Approach
A
Many organisations focus on shareholders opinions, so focus on growth and profit
6
Q
What are three examples of conflicts?
A
Shareholders vs employees, Shareholders vs customers, Shareholders vs directors
