Theme 1 - Stakeholders

?
  • Created by: becky.65
  • Created on: 21-02-17 15:58
What are economic agents?
They cover people and organisations involved in economic activity
1 of 9
What is a stakeholder?
Anyone with an interest in a business or feels an impact from their actions
2 of 9
List some internal stakeholders
Employees, managers and owners
3 of 9
List some external stakeholders
Customers, shareholders, government, community, suppliers and financial institutes
4 of 9
What is corporate social responsibility?
It involves a business behaving in an ethical way and accepting responsibility for its effects on all its stakeholders, including the wider community and the environment
5 of 9
Why has CSR become very important?
For ethical reasons, so they have a good reputation and for profit maximisation
6 of 9
What are government objectives?
To maximise the welfare of society as a whole, but what they do to benefit one group may cause problems for others
7 of 9
What are the owners objectives?
Profit maximisation
8 of 9
What are the employees objectives?
Maximise personal and economic well being
9 of 9

Other cards in this set

Card 2

Front

What is a stakeholder?

Back

Anyone with an interest in a business or feels an impact from their actions

Card 3

Front

List some internal stakeholders

Back

Preview of the front of card 3

Card 4

Front

List some external stakeholders

Back

Preview of the front of card 4

Card 5

Front

What is corporate social responsibility?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Economics resources:

See all Economics resources »See all Stakeholders resources »