Role and Importance of Stakeholders (AQA A-Level Business): Flashcards
📚Flashcards
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10 cards from this deck
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Practise the cards
10 cards from this deck
What business decisions create
What business decisions create
Both positive outcomes and conflicts with stakeholders
Price increase effect on shareholders
Price increase effect on shareholders
Benefit from potential profit increases
Cost cutting conflict with employees
Cost cutting conflict with employees
Face potential job losses
Leadership style definition
Leadership style definition
How leaders make decisions and interact with others
Authoritarian leader trait
Authoritarian leader trait
Makes decisions independently, little stakeholder concern
Democratic leader trait
Democratic leader trait
Actively involves stakeholders in decision-making
Areas covered by government legislation
Areas covered by government legislation
Employment, environment, health & safety, consumer protection
Economic boom effect on stakeholder relations
Economic boom effect on stakeholder relations
More resources available to address stakeholder concerns
Economic decline effect on relations
Economic decline effect on relations
Financial pressures, cost-cutting, reduced investment
Stakeholder mapping basis
Stakeholder mapping basis
Power and interest of stakeholder groups