1C - Stakeholders

Question 1

stakeholders

Answer 1

Stakeholders are individuals, groups, or organisations who have a vested interest in the performance and activities of business

Question 2

customers

Answer 2

individuals of groups who interact with a business by purchasing and utilising its goods and services

Question 3

employees

Answer 3

individuals who are hired by a business to complete work tasks and support the achievement of its objectives

Question 4

general community

Answer 4

the individuals or groups who are impacted by a business’s operations and decisions, often because they are located close to the business

Question 5

managers

Answer 5

individuals who oversea and coordinate a business’s employees and lead its operations to achieve business objectives

Question 6

owners

Answer 6

individuals who establish, invest and have a share in a business, often with the goal of earning a profit

Question 7

suppliers

Answer 7

individuals or groups that sell raw materials, component parts, and processed materials, to businesses

Question 8

vested interest

Answer 8

a strong reason or connection for involving oneself with a business that can involve personal benefit and gain

Question 9

owners vested interest

Answer 9

establishing and fostering positive relationships with other stakeholders to enhance business reputation and performance
receiving a return on their investment

Question 10

managers vested interest

Answer 10

recognised for the achievement of objectives
opportunities to increase their status and promotion
receiving bonuses
receiving appropriate wages and working conditions

Question 11

employees vested interest

Answer 11

provision of long-term job security
receiving fair pay and work conditions
opportunities to engage in personal and professional development
training to advance their careers and receive promotion

Question 12

customers vested interest

Answer 12

receiving high-quality goods and services at affordable prices
engaging with businesses that are ethical and sustainable
receiving friendly and helpful customer service and assistance

Question 13

suppliers vested interest

Answer 13

increasing their revenue
earning a profit from the raw materials and resources they supply
having reliable and honest relationships with businesses they supply

Question 14

general community vested interest

Answer 14

improvements in the community and environment
increasing the local employment rate and local economy