Stakeholders in business (OCR GCSE Business): Flashcards
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Definition of stakeholder
Definition of stakeholder
Someone with an interest in the business
Two types of stakeholders
Two types of stakeholders
Internal and external
Internal stakeholders definition
Internal stakeholders definition
People who work within the business
External stakeholders definition
External stakeholders definition
People outside of the business
What owners receive if business does well
What owners receive if business does well
Profits
Employee benefits when business does well
Employee benefits when business does well
Pay rise and better job security
Effect of price increases on customers
Effect of price increases on customers
Cannot afford to buy as many things
Impact of negative customer reviews
Impact of negative customer reviews
Damages brand image and reduces sales revenue
What suppliers sell to businesses
What suppliers sell to businesses
Goods, components and materials
Supplier benefit when business does well
Supplier benefit when business does well
Increases revenue for suppliers
Positive impacts of business on local community
Positive impacts of business on local community
Provides goods, services and jobs
Negative impacts of business on local community
Negative impacts of business on local community
Traffic, noise, air and light pollution
Local community action against business
Local community action against business
Protest, giving business bad brand image
What govt receives from business profits
What govt receives from business profits
Tax
Business growth effect on unemployment
Business growth effect on unemployment
Reduces unemployment & benefits govt pays