1.4 Stakeholders Flashcards
What is a stakeholder?
Someone who has interest in or affected by a business
What is an internal stakeholder?
People who work within a business that make decisions or carry them out
What is an external stakeholder?
People who are affected by a businesses activities but do not work for the business
What is a shareholder?
Shareholders own a part of the business
What are some examples of internal stakeholders?
Owners
Shareholders
Managers
Employees
What are some examples of external stakeholders?
Customers
Suppliers
Local community
Pressure groups
Government
What is a ‘dividend’ in business?
A sum of reward money paid regulary to its shareholders that comes out of the companies profits
What do shareholders and owners expect from a business?
That the business is successful and how much profit it can make
What do managers expect from a business?
A good salary and opportunities for career progression
What do employees expect from a business?
Good levels of pay
Job satisfaction and job security
Possible career progression
What do customers expect from a business?
A range of Good quality items at reasonable prices
What do pressure groups expect from a business?
For the business to acknowledge their causes (e,g causing traffic pollution in the area)
What does the government expect from a business?
To create more jobs
Why is conflict between stakeholder groups common?
Different stakeholders want different things
