3.2.3 Stakeholders Flashcards
What is a shareholder
An owner of a company
What is Shareholder value
A term widely used by company chairmen and chairwomen, which means little more than the attempt to maximise the company’s share price
What is Social responsibility
Duties towards stakeholders groups, which the firm may or may not accept
What is Stakeholder
An individual or group that affects and is affected by an organisation
What is a Supply chain
All the contractors, sub-contracts and delivery business involved in getting supplies, components to your factory/ business
What are the different types of stakeholders for a business
Customers
Government
Competitors
The media
Employees
Managers
Suppliers
Trade unions
Banks and finance
Local community
Shareholders
Pressure groups
Who would support the decision to cut jobs to reduce costs
Shareholders
Banks
Who would oppose the decision to cut jobs to reduce costs
Employees
Local community
Who is likely to support adding extra shifts to increase factory capacity
Management
Customers
Suppliers
Who is likely to oppose adding extra shifts to increase factory capacity
Local community
What are the approaches to shareholder management (pyramid)
1- partnership
2- participation
3- consultation
4- ‘push’ communications
5- ‘pull’ communications
What are the 4 parts of the stake holder map
C keep satisfied
D key players
A- minimal effort
B- keep informed
What is a shareholder/ owner mainly interested in
Profits and dividends
Success and growth of the business
What are managers and employees mainly interested in
Pay
Job security
Working conditions
Promotion opportunities
What are customers mainly interested in
Value for money
Product quality
Customer service
