Topic 1.5.1 Business stakeholders

Question 1

What are stakeholders?

Answer 1

Stakeholders are groups of people who have an interest in your business.

Question 2

Different stakeholder groups

Answer 2

Shareholders,employees,customers,managers,suppliers

Question 3

Shareholders

Answer 3

Owners of company and want to make the company bigger and better to get more profit
Conflict with employees,if they want to lower wages to get more profits,employees will be less motivated and less productivity.

Question 4

Employees

Answer 4

Want to feel safe and looked after at work
-Secure employment
-Good pay
-Fair treatment
Conflict with shareholders

Question 5

Customers

Answer 5

Customers want choice,fair price,quality and convenience
-Lower prices
-Convenience
-Choice-larger stores
Conflict with community and employees

Question 6

Community

Answer 6

Want to be undisturbed by the businesses
-Also want discounts or tickets
Conflicts with customers

Question 7

Managers

Answer 7

Run the business and want to be successful
-Want hardworking staff
-Job security
-Promotion/salary increase
Conflicts with shareholders

Question 8

Suppliers

Answer 8

-Want fair prices
-Regular order
-Increased orders
Conflict with shareholders

Question 9

Pressure groups

Answer 9

Want rights to be respected
Conflict with customers and shareholders

Question 10

Goverenment

Answer 10

Want employment and tax contributions
Increase of GDP
Tax revenue
Conflict with shareholders