Individual or group with an interest in and is affected by the activities of a business
What are examples of stakeholders?
Owners (shareholders) - wants profits on return of investment,
Managers - want bonuses and long-term success,
Pressure groups - want to influence business decisions and actions,
Suppliers - want regular orders,
Government - wants low unemployment rates and competitive markets,
Local community - wants local investment and limited pollution,
Customers - want value for money,
Employees - want good pay and working conditions
How do stakeholders affect business activity?
Shareholders - Most impact, make all the decisions and provide funding to enable it to start up and grow
Managers - make recommendations on decisions that influence business activities
Employees - Limited influence on decisions, can affect the business by not working as hard as they should be
How do stakeholders affect business activity?
Customers - able to influence others by recommending the business to others or warning others about a business, can negatively of positively impact the business
Suppliers - can significantly impact the business if the quality changes or the reliability of their deliveries
Localcommunity- if it affects a large group of people, they may protest or object through the local council
Pressuregroups - can improve working conditions for employees and help them get fair pay, can influence customers’ opinion on the business
Government - can pass new laws, change tax levels or amend levels of government spending that can affect the business
Why can conflict occur between stakeholders?
If they have different interests
What’s an example of conflict between stakeholder groups ?
