Stakeholders and decision making.

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  • Created by: hamishc
  • Created on: 02-05-16 21:02
What are stakeholders?
People who are affected by the business.
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What are internal stakeholders?
People inside the business: Owners, employees.
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What are external stakeholders?
People outside the business: Customers, suppliers, local community, government, creditors.
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How do businesses use stakeholder mapping?
It helps identify how much interest in and power over the business different stakeholders have. It helps a business decide how to best manage its stakeholders.
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What does stakeholder mapping compare?
Power and influence.
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What position does monitor have?
Low power and interest.
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What position does keep informed have?
Low power, high interest.
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What position does keep satisfied have?
High power, low interest.
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What position does manage closely have?
High power, high interest.
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Give an example of a monitor stakeholder?
Local residents.
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Give an example of a keep informed stakeholder?
Customers, employees, suppliers.
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Give an example of a keep satisfied stakeholder?
Local media, government.
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Give an example of a manage closely stakeholder?
Shareholders.
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How do businesses maintain good relationships with stakeholders?
Consultation and good communication.
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Other cards in this set

Card 2

Front

What are internal stakeholders?

Back

People inside the business: Owners, employees.

Card 3

Front

What are external stakeholders?

Back

Preview of the front of card 3

Card 4

Front

How do businesses use stakeholder mapping?

Back

Preview of the front of card 4

Card 5

Front

What does stakeholder mapping compare?

Back

Preview of the front of card 5
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