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Business

Stakeholders

TermDefinition
Stakeholders An individual or a group that has a interest in an organisation and can either affect or be affected by that organisation
Internal stakeholders Individuals and parties within the organisation e.g owners and entrepreneurs
External stakeholder Don't work within a business but are effected by its activity e.g consumers and local community
Entrepreneurs Use initiative to take a spot or gap in the market take personal and financial risks aim of making profit e.g aimee Connelly
Managers Set goals and strategies based on entrepreneurs objectives, organise staff and ensure business stays on track e.g Ainne O'Leary head of meta Ireland
Employees Work in return of a wage or salary
Board of directors Governing body of a company consisting of the most senior managers set strategies oversee management. Appointed by the company shareholders at annual general meeting
Investors Provide capital for a business. Some invest money in return for dividends while banks provide loans that contain interest then state agencies offer grants no return expected but requirements to be met
Suppliers Provide raw materials required for a business
Producers\ manufacturers Turn raw materials into finished products to sell To customers
Service providers Are businesses that supply services required by the business
Consumers People that buy or use goods and services for personal use rather than business purposes
Local community Made of the people that live in the area where a business is situated
Government Elected representatives and administrative bodies responsible for governing Set rules regulations how a business oppperates and collect taxes from the company
Trade associations Represent businesses involved in similar types of activities
Interest or pressure groups Organisations that represent people with a common interest lobbing is the practice of influencing gov by communicating with decision makers or gain media attention for certain view point
Created by: Chloe sharkey
 

 



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