Term
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Definition
-Owners (shareholders in the company)
-Customers
-Suppliers
-Employees, including managers and their family
-Local community
-Special interest groups (pressure groups)
-Government |
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Term
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Definition
| Individuals or groups who can be affected by, and have an interest in any action taken by the organisation |
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Term
| External stakeholder definition? |
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Definition
| Individuals or groups who are separate from the business but are still affected |
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Term
| Internal stakeholder definition? |
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Definition
| Individuals or groups who work within the business, or own it and are still affected by the business |
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Term
| Typical stakeholder objectives? |
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Definition
Shareholder:
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Role - Provide finance
Rights - Recieve a share of the profit
Responsibilities - To set targets for managers
Local community:
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Role - To provide the labour required by the business
Right - To be informed about any major changes that affect them
Responsibilities - To cooperate with the business |
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Term
| Conflicts between stakeholders? |
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Definition
| Those that financial motivation first naturally conflict with those who maybe be affected by a business expanding or becoming more efficient |
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Term
| Examples of conflicts between stakeholders? |
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Definition
Shareholders VS Employees - Shareholders don't want to increase wages
-Employees want more pay
Directors VS Local community - Directors want to grow the business and make more money which affects the local community |
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