Stakeholders & their influence I |
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Information
Every business has stakeholders, these are people or groups that have an interest in, or can influence the actions of, a business.
Every business has stakeholders, these are people or groups that have an interest in, or can influence the actions of, a business.
Stretch & challenge: Are their any situations when a business is without stakeholders?
Without external stakeholders there would be no business, these include:
> Suppliers
> Lenders > Competitors > Debtors > Creditors |
> Customers
> Government agencies & departments > Communities > Pressure groups > Interest groups |
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Information
Employees are internal stakeholders that can make a significant contribution to the success of a business. Many business make use of contribution schemes whereby employees are given a cut of annual profits. Schemes involving improvements suggested by workers are also commonplace since their introduction of a Kaizen philosophy from Japanese auto manufacturers. |
Key terms
A regulator is an external body acting as a supervisor to ensure businesses comply with relevant legislation.
The benefits received by shareholders, relative to the number of shares they hold is referred to as shareholder value.
Customer retention is when a business or brand achieves customer loyalty, i.e. customers returning time and time again.
A regulator is an external body acting as a supervisor to ensure businesses comply with relevant legislation.
The benefits received by shareholders, relative to the number of shares they hold is referred to as shareholder value.
Customer retention is when a business or brand achieves customer loyalty, i.e. customers returning time and time again.
Plenary
IS CRS real or just a way to make more sales?
IS CRS real or just a way to make more sales?