Stakeholders and decision making.

?
  • Created by: hamishc
  • Created on: 02-05-16 21:02
What are stakeholders?
People who are affected by the business.
1 of 14
What are internal stakeholders?
People inside the business: Owners, employees.
2 of 14
What are external stakeholders?
People outside the business: Customers, suppliers, local community, government, creditors.
3 of 14
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.
4 of 14
What does stakeholder mapping compare?
Power and influence.
5 of 14
What position does monitor have?
Low power and interest.
6 of 14
What position does keep informed have?
Low power, high interest.
7 of 14
What position does keep satisfied have?
High power, low interest.
8 of 14
What position does manage closely have?
High power, high interest.
9 of 14
Give an example of a monitor stakeholder?
Local residents.
10 of 14
Give an example of a keep informed stakeholder?
Customers, employees, suppliers.
11 of 14
Give an example of a keep satisfied stakeholder?
Local media, government.
12 of 14
Give an example of a manage closely stakeholder?
Shareholders.
13 of 14
How do businesses maintain good relationships with stakeholders?
Consultation and good communication.
14 of 14

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
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Business Plans resources »