Stakeholders

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Stakeholder

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14 Terms

1

Stakeholder

A person, group or other business that are directly impacted, either financially or physically, by the operations and functions of a business.

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2

Internal stakeholder

Have a direct involvement in the company. The business has certain responsibilities towards these parties.

Includes employees, managers, shareholders.

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3

Employee

Individuals hired by the business to carry out its operations. Interest in a business include job security, good salary, opportunities for growth and better working conditions.

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4

Managers

Individuals belonging to the executive management and board of directions. Interests in the business includes increased financial performance, meeting strategic and tactical goals, satisfying shareholders and ensuring smooth functioning

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5

Shareholders

People or organisations that invest in a business. Buying shares in hopes for a profit. Interests include growth of profits, unique long term vision, efficient workflow and liquidity.

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6

Dividends

Profits made by the company that are divided among the shareholders.

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7

External stakeholders

Not employed by the business and doesn't have any direct involvement. Includes customers, local community, government and suppliers.

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8

Customers

Quality, quantity and price of product has a major impact on a buyer's decision, which becomes the business' priority to get buyers' attentions. Interests, services, quantity, quality, distribution and pricing.

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9

Local community

Groups interested in a company's ethical practices/impact on the community. Interests include environmental practices and the creation of jobs.

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10

Government

Collection of taxes and evidence that all relevant regulation and legislation requirements are being met. Interests include employment and taxes, appropriate business practices and protection of the environment.

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11

Suppliers

Financial/provide materials to the company. Interests include profits and increased demand for their goods.

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12

Creditors

Invest in a business or provide capital in the form of loans. Priority is to receive adequate returns on investment.

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13

Competitors

Want to informed about the business in order to improve and adjust their own strategies.

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14

Conflict between stakeholders

When stakeholders have goals that do not align with each other. It affects the performance and public image of the business.

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