Stakeholders 5.0 / 5 based on 2 ratings ? Business StudiesStakeholdersASOCR Created by: RitikaCreated on: 17-05-14 08:25 Owners Can be owned by one or more people owners & sharehlders will benefit from profitable business 1 of 7 Employees concerned about security of thier jobs would want to gain highest possible salary or wage some will be concerned about nature of the job and variation some will want responsibility and opportunity to gain promotion 2 of 7 Customers Mostly want value for money keen to have products at high quality with afforable prices some want products to ethical a business is more likley to repsond to the needs for a consumer if there is a possibility that thier reputation will damaged if they don't respond 3 of 7 Lenders A bank is a stakeholder bank will be interested in the abliity of the firm repaying the loan bank will be encouraged if the business is profitable- more chances of getting loan payment back 4 of 7 Suppliers if business increases its sales then suppliers will increase thier sales on time payment will build a good relationship between firm and suppliers if quailty is good and supply is puntual then it will help maintain sales 5 of 7 Community if a business expands- community will have more jobs available: community will come prosperous as people have more to spend on community standard of the infrastructure may be improved- social benfits social cost- pollution, noise and congestion as a result of business activities 6 of 7 Government taxation can affect demand for goods and services less money will go to job seekers allowance- more businesses more jobs employment means govt will collect more tax revenue from employees employement means people will have more to spend- more tax consumer expenditure successful business- more profit- more tax collection for govt business may sell abroad aiding balance of payments 7 of 7
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