U1- Stakeholders Flashcards Preview

Higher Business Management (SY) > U1- Stakeholders > Flashcards

Flashcards in U1- Stakeholders Deck (18):
1

Name the 8 stakeholders covered in the higher course

Owner/ shareholder
Community
Suppliers
Government
Banks
Customers
Employees
Managers

2

What is the influence of the owner/ shareholder?

They can purchase more shares or sell them

3

What is the influence of managers?

They make decisions on the future plans of the organisation

4

What is the influence of employees?

They can affect the quality of a product or service by working hard, or not

5

What is the influence of customers?

They buy the good or service/ do not if they are unhappy

6

What is the influence of banks?

They chose whether or not to provide finance

7

What is the influence of government?

Can alter legislation which affects the business

8

What is the influence of suppliers?

They can alter the price of supplies
They can fail to deliver

9

What is the influence of community?

Can petition the organisation to make a change to environmental policies

10

Name 3 things shareholders want

Higher profits
Reduced cost
Higher dividends

11

Name 4 things managers want

Reduced costs
Maintenance of cash flow
Higher profits
Lower borrowing costs

12

Name 3 things the government want

Reduced pollution
Increased employment
Increased exports

13

Name 2 things customers want

Reduced prices
High quality

14

Name 1 thing the bank wants

Higher interest rates

15

Name 2 things suppliers want

Price increase
Prompt payment

16

Name 3 things employees want

Higher wages
No redundancies
Retained conditions of employment

17

Give 2 examples where conflict of interest for stakeholders could arise

Higher profits for shareholders may mean no pay rise for employees

Employees may want a high wage for the work they do but the business owner might want to keep wage costs at a minimum

18

Give 4 examples of stakeholder interdependence

Employees need the business to provide jobs/ business needs employees to do the work

Customers need the business to provide goods/ business needs the customers to make sales

Suppliers need the business to keep making purchases/ business needs the supplier to keep supplying

Government needs the business to provide jobs and pay tax/ business needs the government to ensure it can continue trading