| What is a Stakeholder? | Someone, who has a Interest in the Business and can/be affected by it. |
| Name examples of Stakeholders | -Shareholders
-Managers and Employees
-Customers
-Suppliers
-Banks
-Trade Unions
-Government
-Media
-Competitors
-Local Community |
| Who are the Internal Stakeholders? | -Shareholders
-Employees/Owners
-Managers |
| Who are the External Stakeholders? | -Competitors
-Government
-Society
-Banks
many more... |
| Who are the Connected Stakeholders | [This is Stakeholders who have a relationships based on a Contract]
-Customers
-Suppliers
-Creditors |
| What are the Different types of Stakeholders Objectives | -Shareholders; Return on investment and profits. Can also be growth and the true running of the Business
-Managers and Employees; A Salary, Job security, Good working conditions, Promotion opportunities, Job satisfaction, etc...
-Customers; Value for money along with Product quality and Customer Service
-Suppliers; A stable and long trade with the Business and Financial stability. Can the Business pay the bills?
-Banks; Wants the loans payed back at a Interest, Cash flow of the Business and Growth of the Profits [in the Business]
-Government; Taxes, Growth of the Business for Jobs and making sure it follows the Rules
-Local Community; Success of the Business, to create Jobs and make sure it abides by the Local Laws [Noise regulations etc] |
| What are the Conflicts of Different Stakeholders? | -Cut jobs = less costs; Shareholders and Banks support, while Employees and the Local Community don't
-More shifts to increase the Factory Capacity; Management, Customers and Suppliers support this, while the Local Community doesn't
-Better machinery to replace human jobs; Customers and Shareholders support this, Employees don't
-Higher selling prices, to get more Profit; Shareholders and the Management support, Customers don't |
| What Influence do Stakeholders have? | -Strike; kind of a last resort, but can work
-Negotiation; Suppliers [eg] may try to gain better terms and conditions
-Voting; Shareholders [eg] may vote on Business Decisions
-Refuse to Co-operate; Employees [eg] may not work correctly and ignore the rules if the changes was horrible |
