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