stakeholders

• stakeholders


  internal or external people with an interest in the business to succeed
• internal stakeholders


  owners/shareholders, managers, employees
• external stakeholders


  local community, customers, suppliers, bank, government
• owners/shareholders are stakeholders because


  they want to make a profit and receive high dividends
• managers are stakeholders because


  they want a promotion, bonus, job security
• employees are stakeholders because


  they want job security, higher pay, improved working conditions
• customers are stakeholders because


  they want quality products and services, low prices, value for money
• banks are stakeholders because


  they want the organisation to pay their loans in full and on time
• goverment are stakeholders because


  they want corporation tax to be paid, jobs and wealth created, goods and services provided
• suppliers are stakeholders because


  they want regular orders, prompt payment
• local community are stakeholders because


  they want job openings, safe environment, good transport, good communication links
• conflicting interests of stakeholders


  owners want high profits + employees want high wages, managers want delayed payment + suppliers want prompt payment, managers want highest profit margins + customers want value for money, business wants to cut costs by moving overseas + employees want job security
• interdependence of stakeholders


  managers need suppliers to provide high quality goods + suppliers need customers, owners need employees to work hard + employees want good pay and working conditions, customers want goods and services + owners need customers to purchase products