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Stakeholders

Chapter 1

TermDefinition
Internal stakeholders Directly involved in running a business e.g. owners
External stakeholders Not directly involved in running but affected by decisions
Stakeholders Individuals/groups//organisations- interest in/ influence
Entrepreneur A person who sets up a business or businesses, taking a financial risk in hope of profit.
Owners Individuals or entities that hold legal ownership of a business
Employers Hire employees to complete work in return for a wage or salary
Employees Work in a business in return for a wage or salary
Board of directors The governing body of a company, consisting of the most senior managers
Investors Provide capital (finance) for a business
Suppliers Provide the raw materials required for the business
Producers/manufacturers Turn raw materials into finished products to sell to consumers
Service providers Businesses that supply services (banking, insurance, accountancy, etc.) required by the business
Consumers People who buy or use goods and services for personal use, rather than for business purpose
Local community The people who live in the area where a business is situated
Government The elected representatives and administrative bodies responsible for government
Trade associations Represent business involved in similar types of activities
Interest/pressure groups Organisations that represent people with a common interest.
Lobbying The practice of influencing government decisions by communicating with decision makers or gaining media attention for a certain viewpoint.
Created by: L.keane
 

 



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