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Higher Business Managment > UB T7 Stakeholders > Flashcards

UB T7 Stakeholders Flashcards

1
Q

Who is a stakeholder?

A

Anyone with an interest or influence in the success of a business

Owners
Managers
Employees
Customers
Suppliers
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2
Q

Conflict of interest

A

When two stakeholders want different things.

Employees want a pay rise
Owners want high profits

Customers want low prices
Owners want high profits

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3
Q

Interdependence

A

Stakeholders rely on each other, which helps the business succeed.

Owners need customers to buy their product
Customers need owners to give good products and customer service.

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Higher Business Managment (29 decks)

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