Stakeholder Relationships (Leaving Cert Business): Flashcards

Connections between groups with interest in a business

Everyone has something to offer & something they want in return

Stakeholders work together towards shared goals (win-win)

Stakeholders have conflicting interests or compete for resources

Constantly changing; cooperate sometimes, compete in others

Mutual benefit; accomplish more together than individually

Direct discussion between parties to reach agreement

Using a neutral third party to help find solutions

Independent expert makes binding decisions

Paying attention, showing empathy, understanding viewpoints