- Created by: 15James.leonard
- Created on: 22-06-18 10:33
The owner is the person who runs the business.
They can employ, Buy goods for business and run the business to their idea to the business plan.
The owners are most intrested in earning a profit from running the business. If they cant earn a sustainable profit, they go out of business.
This is an internal stakeholder
The employees help run the business. They help to create or sell and even advertise the goods to customers. However, employees want to the a decent wage in the UK the national living wage set up the the british government is £7.83 for over 25 year olds (As of 2018) If employees believe they arent earning enough for the work they put in they go on strike. This has disasterous impact on the business. Its important for the owner to keep employees happy.
These are important for the business as they buy the goods and sevices. This help the business gain a profit to pay employees, buy the goods, VAT tax and rent for the buildings. if the cutomers dont buy from the business the business faces going bankrupt. These are external to the business.
The suppliers give good out to the business. The business buys off the suppliers stock. If you run a supermarket you will need new stock this is when the supplier hands goods to the business at a cost. These are key to a business, typically the business buys products in bulk.
The government are involved in everything, they take an intrest in business they apply tax on goods to grow the british economy. They apply tax onto foods drinks and other goods they also tax on an employee wage ( The government do leave the employee with enough to make a living.)
The local community are impacted by the business as if they believe the business is doing harm to the local environment the community will protest. For example a new train track and train station near houses. The community will protest against will as it will cause noise.