194425
Description
Mind Map by Livv McCarthy, updated more than 1 year ago
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Created by Livv McCarthy
about 11 years ago
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Chapter 1- Stakeholders
- Employees
- Employees can
benefit because if the
business succeeds
they wont risk losing
their jobs and/or
could mean they have
an opportunity for a
pay rise
- Employees can get
promotions if the
business succeeds
- Employees can
benefit because if the
business succeeds
they wont risk losing
their jobs and/or
could mean they have
an opportunity for a
pay rise
- Creditors
- Creditors will benefit because
they'll gain their money back
quicker the more successful the
business
- if the company is successful and expands they're more likely to borrow
more money
- Creditors will benefit because
they'll gain their money back
quicker the more successful the
business
- Local Community
- The can benefit by a
business succeeding
because it can mean more
job opportunities for the local
community
- More
businesses
means more
access to
supplies in their
area
- The can benefit by a
business succeeding
because it can mean more
job opportunities for the local
community
- Suppliers
- If
a business succeeds
it means an increase
of demand for
supplies
- Due to the increase
demand on the
wholesaler the knock
on effect improves
their turnover
- If
a business succeeds
it means an increase
of demand for
supplies
- Owners
- Owners will benefit
greatly from the
success of their
business because their will be a greater turnover
- an opportunity to
expand their business
- more credit
rating/more
employees
- more credit
rating/more
employees
- Owners will benefit
greatly from the
success of their
business because their will be a greater turnover
- A Stakeholder is a person or
group of people who have an
interest in a business
- Customers
- Customers are interested in the success of a business
because if the business gains a lot of profit they can
afford to keep prices cheap whereas if they weren't
succeeding they'd have to raise their prices
- Customers are interested in the success of a business
because if the business gains a lot of profit they can
afford to keep prices cheap whereas if they weren't
succeeding they'd have to raise their prices
- Customer Service
- Customer service plays a big
part on the success of a
business because if the
service is bad it will
discourage cutomers in using
that business meaning losing
customers
- Having good customer service
encourages more customers
- Customer service is the service given to
customers/future customers before or after the
purchase of good or services
- Customer service plays a big
part on the success of a
business because if the
service is bad it will
discourage cutomers in using
that business meaning losing
customers
- Profit
- Profit is the difference between an amount of money earned for
the business and the amount of money spent on the business
e.g. buying supplies/decorating
- Profit is the difference between an amount of money earned for
the business and the amount of money spent on the business
e.g. buying supplies/decorating
- Revenue
- is the earnings/income of a business
- is the earnings/income of a business
- Sponsorship
- Sponsorship/sponsoring a
business is giving money to another
business to help it succeed or
help advertising it
- Sponsorship/sponsoring a
business is giving money to another
business to help it succeed or
help advertising it
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