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Unit 1 People in Bus

Business,Stakeholders and Relationships

QuestionAnswer
A Co-operative Relationship This occurs when two parties work towards a common goal. It is a win/win situation.
A Competitive Relationship This occurs when two parties are working towards different goals and one must lose out. Win/lose situation.
A Stakeholder Stakeholders are the people who are affected by how a business is run. They include entrepreneurs, investors/ shareholders, customers, suppliers, employees, employers, the government, interest groups and the local community.
A Dynamic Relationship The relationship between the stakeholders is always changing – sometimes competitive, sometimes co-operative.
A Dependent Relationship A Dependant relationship may exist between producers and consumers - producer makes clothes and the consumer buys them. The producer depends on the consumer for sales/money whereas the consumer depends on the clothes producer for new fashion items.
A Commercial Business A commercial business is one which has the aim of making a profit, e.g. Dunnes Stores,
A Non-Commercial Business A non-commercial business is an organisation which exists for some other reason than making a profit, i.e. to provide a service e.g. charity
An Investor An Investor is a person or organisation who provides money in return for: 3 scenarios BANK LOAN: where they are charged interest; STATE/EU GRANT – free money PRIVATE INVESTORS- shares in the company and a share of future profits –dividend.
An Interest Group Interest groups represent the interests, views or goals of its members They achieve results by applying pressure or lobbying decision makers. Eg. IFA or Greenpeace.
Created by: elainequigley
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