Internal Stakeholders/External Stakeholders

Question 1

Owners

Internal Stakeholder

Answer 1

Interest:
For the business to be successful and to make a profit.

Influence:
By making important decisions.

Question 2

Managers

Internal Stakeholder

Answer 2

Interest:
To receive a good salary, responsibility and status.

Influence:
By making key management decisions e.g. Budget and staffing

Question 3

Employees

Internal Stakeholder

Answer 3

Interest:
To receive a good wage and job security.

Influence:
By producing good quality products or taking industrial action e.g. Strike

Question 4

Suppliers

External Stakeholder

Answer 4

Interest:
Obtaining repeat business and getting paid on time.

Influence:
They can offer bulk buying discounts and good credit terms

Question 5

Banks

External Stakeholder

Answer 5

Interest:
Providing banking services and having loans paid back on time.

Influence:
By refusing loans or not and change interest rates.

Question 6

Local Community

External Stakeholder

Answer 6

Interest:
Jobs to be created and the business does not cause damage to the environment

Influence:
They can protest and petition against the business.

Question 7

The Government

External Stakeholder

Answer 7

Interest:
To ensure the business follows the laws and pays taxes.

Influence:
By setting new tax rates or inforce new laws if necessary closing a business down.

Question 8

Customers

External Stakeholder

Answer 8

Interest:
To buy good quality products at a reasonable price.

Influence:
By buying or not buying products from the business.