Studied by 1 person- Definitions, examples and interests
Stakeholders
A person/group/organisation affected by business decisions
Primary benefit of engaging with Stakeholders?
Establishing trust
Role of a stakeholder in decision making?
Providing feedback
Challenges when addressing interests of multiple stakeholders
Establishing priorities
Strategies used to manage stakeholder expectation?
Clear Objectives
Communicating pro-actively
Developing a code of conduct
Stakeholders - Interests of Owners
More profits
Company expansion
Stakeholders - Interests of Customers
Good service
Quality of products
Safety and Security
Good prices and value for money
Stakeholders - Interests of Employees
Good salaries and wages
Job security
Promotion opportunities
Working conditions
Stakeholders - Interests of the Government
Taxes
Jobs/occupations
What is the difference of wages and salaries?
Wages are weekly pay
Salaries are annual pay
Examples of stakeholders?
Investors
Owners
Employees
Customers
Local Community
Government
Note
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