Business - 1.5 Stakeholders in a Business

Stakeholders

Individuals/groups affected by a business

Internal stakeholders

Owners, employees

External stakeholders

Customers, suppliers, investors, community

Stakeholder conflict

When stakeholder interests’ clash

Customers (Business responsibilities)

Safety, Price, Design, Durability, Customer Service

Suppliers (Business responsibilities)

Pay them on time, clear about quantity, honour and contracts

Employees (Business Responsibilities)

Abide by the law, pay employees’ KiwiSaver, provide training, safe working conditions, provide job security

Local Community (Business responsibilities)

Employment opportunities, use local suppliers, consider environmental issues, consider impacts

Government (Business responsibilities)

Meet employment law, pay tax on profits, pay PAYE on behalf of employees, employ citizens

Creditors/Lenders (Business responsibilities)

Repaid on the agreed date, paid finance charges