Stakeholders
A stakeholder is a person or a group of people who are interested in how successful the business is.
Owners - The owners of the business invest their own money, and hope to get a good return. The reward they get on a good day is the amount of profit they receive. The owners of a large business are called SHARE HOLDERS as they do not have anything to do with the business on a day to day basis.
Employees – The employees are the people that work for a business, they expect to receive a decent wage (on or above the minimum). The employees want to work in a safe and quiet place. The amount of people they employ and the amount they pay them adds to the amount of money they let out of the business. In some cases employees can sometimes get into conflict with the owners, as they want something else.
Customers – when a customer goes to buy something at a shop they expect it to be of a good quality. Sometimes business’ will cut corners and buy the cheaper products to make more profits, some customers dislike this fake quality. Good service is a key want for customers as it sets a good reputation. Some business’ send out questionnaires on how they did, a good/happy employee helps set a good reputation on the customer loyalty.
Local People – some businesses have good impacts on a community. They bring new jobs for many people. But they have their down points; they sometimes cause a lot of heavy traffic in the area due to more people wanting to shop and more employees driving to work.
The government – The government wants a business to be successful as they create more money/ wealth. They also want them to work in a civilised was and follow the rules of the law.
The environment – the government has taken a bigger role in making sure that businesses follow the legislation to help the environment. So business need to use materials that are sustainable and not going to run out straight away.
Employees – The employees are the people that work for a business, they expect to receive a decent wage (on or above the minimum). The employees want to work in a safe and quiet place. The amount of people they employ and the amount they pay them adds to the amount of money they let out of the business. In some cases employees can sometimes get into conflict with the owners, as they want something else.
Customers – when a customer goes to buy something at a shop they expect it to be of a good quality. Sometimes business’ will cut corners and buy the cheaper products to make more profits, some customers dislike this fake quality. Good service is a key want for customers as it sets a good reputation. Some business’ send out questionnaires on how they did, a good/happy employee helps set a good reputation on the customer loyalty.
Local People – some businesses have good impacts on a community. They bring new jobs for many people. But they have their down points; they sometimes cause a lot of heavy traffic in the area due to more people wanting to shop and more employees driving to work.
The government – The government wants a business to be successful as they create more money/ wealth. They also want them to work in a civilised was and follow the rules of the law.
The environment – the government has taken a bigger role in making sure that businesses follow the legislation to help the environment. So business need to use materials that are sustainable and not going to run out straight away.