Stakeholders (AQA GCSE Business): Flashcards
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Practise the cards
13 cards from this deck
Definition of stakeholder
Definition of stakeholder
Any individual/group with genuine interest in a business
How does business size affect stakeholders?
How does business size affect stakeholders?
Larger businesses have more stakeholders to manage
How does product nature affect stakeholder scrutiny?
How does product nature affect stakeholder scrutiny?
High-impact products (e.g. polluting) face more scrutiny
Main interests of shareholders/owners
Main interests of shareholders/owners
Profit, dividends, business growth, good management
Main interests of managers & employees
Main interests of managers & employees
Good pay, job security, working conditions, promotion
Main interests of customers
Main interests of customers
Value for money, good quality products, good service
Main interests of government
Main interests of government
Payment of taxes, job creation, following laws
Main interests of local community
Main interests of local community
Local jobs, economic success, no disruption
Main interests of pressure groups
Main interests of pressure groups
Best deal for members, environmental/ethical concerns
Factors determining stakeholder influence
Factors determining stakeholder influence
Stakeholder power & business circumstances
Conflict: business expansion impact on shareholders
Conflict: business expansion impact on shareholders
Reduces short-term profits but increases long-term value
Conflict: automation & efficiency improvements
Conflict: automation & efficiency improvements
Increases profit for owners but causes job losses
Small vs large business: number of stakeholders
Small vs large business: number of stakeholders
Small businesses have fewer stakeholders than large ones