U3 AOS1 Ch1C Stakeholders

Question 1

StakeHolders

Answer 1

Individuals who have a vested interest in the affairs of a business

Question 2

Owners

Answer 2

(strong vested interest)
- Have financial and personal reputation at stake
- Return on Investment (ROI)

Question 3

Managers

Answer 3

(strong vested interest)
- Financial, job security and Personal Reputation at stake
- Employed and run business

Question 4

Employees

Answer 4

(strong vested interest)
- Job security, financial career development, personal reputation
- Worker’s Union: represents vested interest of employees

Question 5

Customers

Answer 5

(loyalty vested interest)
- Consumption, high quality, well priced, meet market needs, loyalty
- 80:20 RATIO: 80% sales come from 20% customers

Question 6

Supplier

Answer 6

(Mild vested interest)
- Financial, associated reputation

Question 7

General Community

Answer 7

(less vested interest - until something happens)
- Indirect effect position
- Pros: Financial Donations and employment
- Cons: land clearance, pollution, environmental damage, oil spills, unemployment