Stakeholders - Business and communication systems

Stakeholders are people who have an interest in a business, they can be individuals or a group of people
Different stakeholders
1. Employees
  1. They are interest in their job security and promotion prospects, they also want to earn a decent wage and have plesent working conditions, all grades and jobs are affected by the business.
  2. If the company succeeds
    1. More likely to get better pay
    2. Chance of promotions
    3. better facilities
  3. If the company fails
    1. Threatens their job
    2. freeze their pay
    3. Possiblt cut their wages
2. Customer/Consumer
  1. Customers have a stake in any business/company from which tye buy their goods and services
  2. They want low prices
  3. best quality available
  4. good service
  5. innovative products
3. Owners and shareholders
  1. They are the most important stakeholders as they get to decide what happens to a business
  2. want to make money
  3. interested in making a profit
  4. want a good dividend
  5. want their shares to increase in price
4. Suppliers
  1. if the company succeeds
    1. more orders for them
    2. more success for their own business
  2. if the company fails
    1. falling orders for them
    2. less profit
    3. job losses
5. the local community
  1. creates jobs
  2. the local area will suffer
  3. the buciness might buy from local suppliers
  4. might provide a service to local people
  5. could pollute local environment
6. the government
  1. when a company succeeds
    1. the company pays taxes, the more it makes the more tax they pay
  2. if the company fails
    1. workers are unemplyed
    2. the government have to pay unemployment benefit
conflict
1. an owners desire to maximise profits can cause conflict with employees
2. conflict between managers and workers lead to industrial action
3. poor communication between stakeholders can lead to reduced morale
4. products need to satisfy the customer but still be profitable
5. government introduces laws to protect customers and workers.

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Stakeholders - Business and communication systems

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	Created by Eleanor Simmonds over 9 years ago