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Stakeholders

The document discusses the different types of stakeholders that a business organization has, including internal stakeholders like owners, managers, and employees, as well as external stakeholders like customers, suppliers, the community, and the government. It then provides characteristics and examples of each of these stakeholder types.

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262 views12 pages

Stakeholders

The document discusses the different types of stakeholders that a business organization has, including internal stakeholders like owners, managers, and employees, as well as external stakeholders like customers, suppliers, the community, and the government. It then provides characteristics and examples of each of these stakeholder types.

Uploaded by

aswathi1
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPT, PDF, TXT or read online on Scribd
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http://www.bized.co.

uk
Copyright 2007 Biz/ed
Meeting the Needs
of Stakeholders
BTEC Business
http://www.bized.co.uk
Copyright 2007 Biz/ed
What are Stakeholders?
Stakeholders are groups of people
who have an interest in a business
organisation
They can be seen as being either
external to the organisation,
or internal
But some may be both!
http://www.bized.co.uk
Copyright 2007 Biz/ed
Types of Stakeholder
Owners (I)
Shareholders (I)
Managers (I)
Staff or employees
(I)
Customers (E)
Suppliers (E)
Community (E)
Government (E)
I = Internal

E = External
http://www.bized.co.uk
Copyright 2007 Biz/ed
Internal and External
Stakeholders
Internal stakeholders are those who are
members of the business organisation

Owners and shareholders
Managers
Staff and employees
External stakeholders are not part
of the firm
http://www.bized.co.uk
Copyright 2007 Biz/ed
But..!
Some groups can be both internal
and external stakeholders
Such as staff or shareholders
who are also local residents
Can you think of any others?
http://www.bized.co.uk
Copyright 2007 Biz/ed
Characteristics of
Stakeholders
1. Owners and Shareholders

The number of owners and the roles they carry
out differ according to the size of the firm
In small businesses there may be only one
owner (sole trader) or perhaps a small number
of partners (partnership)
In large firms there are often thousands
of shareholders, who each own a small part
of the business
http://www.bized.co.uk
Copyright 2007 Biz/ed
2. Managers:

organise
make decisions
plan
control
are accountable to the owner(s)
Characteristics of
Stakeholders
http://www.bized.co.uk
Copyright 2007 Biz/ed
Characteristics of
Stakeholders
3. Employees or Staff:

A business needs staff or employees
to carry out its activities
Employees agree to work a certain number
of hours in return for a wage or salary
Pay levels vary with skills, qualifications, age,
location, types of work and industry
and other factors

http://www.bized.co.uk
Copyright 2007 Biz/ed
Characteristics of
Stakeholders
4. Customers:

Customers buy the goods or services produced
by firms
They may be individuals or other businesses
Firms must understand and meet the needs
of their customers, otherwise they will fail
to make a profit or, indeed, survive
http://www.bized.co.uk
Copyright 2007 Biz/ed
5. Suppliers:

Firms get the resources they need to produce
goods and services from suppliers
Businesses should have effective relationships
with their suppliers in order to get quality
resources at reasonable prices
This is a two-way process, as suppliers depend
on the firms they supply
Characteristics of
Stakeholders
http://www.bized.co.uk
Copyright 2007 Biz/ed
6. Community:

Firms and the communities they exist in
are also in a two-way relationship
The local community may often provide many
of the firms staff and customers
The business often supplies goods
and services vital to the local area
But at times the community can feel aggrieved
by some aspects of what a firm does
Characteristics of
Stakeholders
http://www.bized.co.uk
Copyright 2007 Biz/ed
7. Government:

Economic policies affect firms costs (through
taxation and interest rates)
Legislation regulates what business can do
in areas such as the environment
and occupational safety and health
Successful firms are good for governments
as they create wealth and employment
Characteristics of
Stakeholders

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