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Business:Stakeholder

T1

QuestionAnswer
Stakeholders Groups of people or individuals who have an interest in a business
Owners: Internal Effects; See profit as their main aim so will want to run the business cost effectively
Employees: Internal Effects: Employees want to be treated well and receive a fair wage. Without this they could go on strike
Customers: External Effects: Customers want to receive a good service and pay a fair price. Without this they could go to competitors
Suppliers: External Effects: Suppliers want to be paid on time. Delayed payments could mean the supplier refuses orders
Government: External Effects: The government wants businesses to succeed however an increase in income tax means less money for customers
Local Community: External Effects: The local community will wat jobs in their area however they could protest against a new business development
Internal Stakeholders People with an interest in and who work in the business
External Stakeholders People with an interest in but who are outside of the business
Created by: lil.dripz
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