stakeholders

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what is a stake holder?
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business.
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how are owners affected by the activity of the business?
Owners who are interested in how much profit the business makes.
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how are managers affected by the activity of the business?
Managers who are concerned about their salary.
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how are workers affected by the activity of the business?
Workers who want to earn high wages and keep their jobs.
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how are customers affected by the activity of the business
Customers who want the business to produce quality products at reasonable prices.
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how are supliers affected by the activity of the business?
Suppliers who want the business to continue to buy their products.
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how are lenders affected by the activity of the business?
Lenders who want to be repaid on time and in full.
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how does the activity of a business affect the local comunity and the environment?
The community which has a stake in the business as employers of local people. Business activity also affects the local environment. For example, noisy night-time deliveries or a smelly factory would be unpopular with local residents.
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what are internal stakeholders?
Internal stakeholders are groups within a business - eg owners and workers.
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what are external stakeholders
External stakeholders are groups outside a business - eg the community.
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in a small business who are the primary stakeholders?
owners, staff, customers
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in a large business who are the primary stakeholders?
shareholders- they can vote out directors if they think they are running the business badly
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what are the less influential stakeholders called?
secondary stakeholders
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why are customers key stakeholders?
Businesses that ignore the concerns of customers find themselves losing sales to rivals.
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how does information published by a business help stakeholders?
it helps them judge how well the business is proforming
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how does the information published by a business help the owners?
Owners can judge how well the business is performing. Increased profits improve the chances of directors being re-elected at the next annual general meeting
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how does the information published by a business help rivals?
Rivals can compare the amount of profit they are making with the business.
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how does the information published by a business help pressure groups
Pressure groups can find out about the environmental policy of the business.
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what are the objectives of an owner?
Owners generally seek high profits and so may be reluctant to see the business pay high wages to staff.
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Other cards in this set

Card 2

Front

how are owners affected by the activity of the business?

Back

Owners who are interested in how much profit the business makes.

Card 3

Front

how are managers affected by the activity of the business?

Back

Preview of the front of card 3

Card 4

Front

how are workers affected by the activity of the business?

Back

Preview of the front of card 4

Card 5

Front

how are customers affected by the activity of the business

Back

Preview of the front of card 5
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