U3 AOS1 CHPD FELIX's

Question 1

Interests and potential conflicts between= Owners vs. Employees

Answer 1

-Owners are interested in the success of the business from=
:a financial position
:a personal reputation position

-Employees are interested in the success of the business from a=
:job security position
:financial position
:Career development
:personal reputation position

Where could conflict occur=
-Owners want to maximise their return on investment=Labour costs are commonly a high expense, so reducing wages will potentially improve profits, but upset employees.

Question 2

Interests and potential conflicts between= Managers vs. Customers

Answer 2

-Managers are interested in the success of the business from=
:job security position
:Financial position
:Personal reputation position

-Customers are interested in the success of the business from=
:Consumptions position(want business goods/services of high quality, well priced, and that meets market needs)

Where could potential conflict occur=
-Managers(are interested of meeting owners wants) are interested in the success of the business from a job security, financial, and a personal reputation position.=this may cause managers to increase the prices of goods and services, or reduce the cost of resources by using lower quality materials= possibly upsetting the customers.

Question 3

Interests and potential conflicts between= Employees vs. shareholders

Answer 3

-Employees are interested in the success of the business from=
:job security position
:financial position
:Career development
:personal reputation position

-Shareholders are interested in the success of the business from=
:A financial position
:personal reputation position

Where could conflict occur=
-Employees want higher wages, and better terms and conditions, but this may come at the expense of profits=which will potentially damage dividends and share prices.

Question 4

Interests and potential conflicts between= Managers vs. suppliers

Answer 4

-Managers are interested in the success of the business from=
:job security position
:Financial position
:Personal reputation position

-Suppliers are interested in the success of the business from=
:financial position
:associated reputation position

Where could potential conflict occur=
-Management wants to keep costs down to improve profits= but suppliers want higher prices to cover their costs and make their own profits.