1.5-6 Stakeholders and their characteristics and interests

Business owners

Heavily involved (sole trader) or removed from day to day operations (public company)

• Business to maximise profit

• High income

• Business to demonstrate CSR

Shareholders

Part owners of private or public company that can influence on how the business operates, not always involved in day to day operations as they both internal and external

• Business to maximise profit

• High rate of return

• See share price/value

Managers

Employees who have responsibility of successfully running/overseeing how business operates

• ensuring business strategies are implemented correctly and objectives will be achieved

Employees

Members of business who carry out day to day tasks of business

• Being paid a higher amount of income

• Safe working environment

• Opportunity to participate in professional development opportunities

• Job security

Customers

Individuals and group who purchase products or service of a business

• Receive high quality product at most affordable price

• Good customer service

Suppliers

Provider of resources a business needs to operate

• Maximise profit by bargaining highest price for supplies

• Receive correct and timely payments from business

• Establish long term business relationships

General community

Anyone external who may be affected by operations of business

• Employment opportunities made available

• Business participates in community events

• Business to demonstrate CSR