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Unit 1.5| Business A level
Cambridge Unit 1.5 Business A level
7
Business
11th Grade
10/25/2021

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Cards

Term
Main stakeholders?
Definition
-Owners (shareholders in the company)
-Customers
-Suppliers
-Employees, including managers and their family
-Local community
-Special interest groups (pressure groups)
-Government
Term
Stakeholder definition?
Definition
Individuals or groups who can be affected by, and have an interest in any action taken by the organisation
Term
External stakeholder definition?
Definition
Individuals or groups who are separate from the business but are still affected
Term
Internal stakeholder definition?
Definition
Individuals or groups who work within the business, or own it and are still affected by the business
Term
Typical stakeholder objectives?
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
Term
Conflicts between stakeholders?
Definition
Those that financial motivation first naturally conflict with those who maybe be affected by a business expanding or becoming more efficient
Term
Examples of conflicts between stakeholders?
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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