Influence of Stakeholders

• What is a stakeholder in a business context?

  An individual, group, or organization affected by a business
• Who are the five main stakeholders in a business?

  Owners, suppliers, customers, employees, local community
• What is the main objective of business owners?

  To maximize profit and business value
• Why do suppliers have a significant stake in a business?

  Because the business is their customer
• How can a business's failure affect its suppliers?

  Suppliers lose a customer, impacting revenue
• What do customers expect from a business?

  Quality products at appropriate prices
• How would a bankruptcy of Instagram affect its customers?

  It would significantly impact their daily lives
• What are the main objectives of employees in a business?

  Job security and growth opportunities
• How can a business's performance affect its employees?

  It impacts wages and job security
• What can happen to employees if a business is failing?

  They may lose their jobs
• How can a local community be affected by a business?

  Through employment and environmental impact
• What negative effects can businesses have on local communities?

  Noise and environmental pollution
• Who has the biggest impact on a business's decisions?

  Owners and shareholders
• Why is it important for businesses to adapt to changing customer needs?

  To remain competitive and meet demands
• What is the significance of keeping employees happy in a business?

  They work more effectively and efficiently
• How does the local community's influence on a firm compare to other stakeholders?

  It may have less impact on operations
• What conflict can arise between stakeholders regarding profits?

  Maximizing profits vs. being environmentally friendly
• What is a potential benefit of renewable energy sources for a community?

  They can be better for the environment
• Why might renewable energy sources be more expensive?

  They can have higher initial costs than traditional sources