UNIT 1 - Business in the real world - Unit 1.4 - Stakeholders

1.4.15 - Main stakeholders

A stakeholder is

an individual or organization that affects and is affected by an organization.

Decisions made by owners are influenced by stakeholders

Examples...

• Shareholders/Owners - Maximise profits, high dividends, high share price.

• Employees - Secure jobs, higher earnings, promotion opportunities.

• Suppliers - Paid on time, told about changes quickly.

Examples...

• Community - Responsible business. Recycle, noise reduction.

• Customers - Useful for information, Good service, value for money, if important can dictate to owners.

• Government - Tax, legal behavior.

1.4.17 - Impact on stakeholders

Business activities…