GCSE Business Studies/Stakeholders - Wikibooks, open books for an open world (2024)

FAQs

Who are the stakeholders in a business GCSE? ›

A stakeholder is any person, group of people or other organisation that has an interest in the activities of a business. Businesses need to be aware of their stakeholders, as many of them will be affected by its activities.

Examples of important stakeholders for a business include its shareholders, customers, suppliers, and employees. Some of these stakeholders, such as the shareholders and the employees, are internal to the business.

Internal Stakeholders are those impacted by business activity inside the business: owners, shareholders, managers and employees. External stakeholders are not owners or employees but are affected by the activity of the business. For example, customers, government, banks, local community and suppliers.

A stakeholder is a person, group or organization with a vested interest, or stake, in the decision-making and activities of a business, organization or project.

In business, a stakeholder is any individual, group, or party that has an interest in an organization and the outcomes of its actions. Common examples of stakeholders include employees, customers, shareholders, suppliers, communities, and governments.

The first and most important comprises employees, customers, and investors, without whom the business will not be able to operate.

Who are the "Big Three" stakeholders for organizations? Here's the best way to solve it. The Big Three stakeholders for organizations are customers, employees, and suppliers.

Stakeholder means any people or groups who are positively or negatively impacted by a project, initiative, policy or organisation. They could be internal (people within your organisation) or external (people outside of your organisation).

A stakeholder is anyone who is impacted by a company or organization's decisions, regardless of whether they have ownership in that company. Shareholders are those who have partial ownership of a company because they have bought stock in it. All shareholders are stakeholders, but not all stakeholders are shareholders.

Who is one of the most critical stakeholders? ›

One of the most important stakeholders of a business is the customer. Customers buy the products the company provides and help make the company successful. They also contribute to the success of the business in other ways. For example, they can provide feedback that can improve a company's product or service.

Tier 1. Central Stakeholders: The “go-to” people within your network, the ones you have a direct relationship with. These stakeholders have a strong connection to your organisation.

1 Approved Answer

Universities Stakeholders are individuals, groups, or organizations that have an interest in the success of a business or project. Universities are not typically considered stakeholders in a business or project, unless they have a direct interest or involvement in it.

Answer and Explanation:

Competitors are not considered to be a stakeholder. Although competitors may directly or indirectly impact an organization, they are not stakeholders.

Two types of stakeholders include 1) internal: employees and owners. 2) External: Governments, customers, investors, suppliers and communities.

As a general rule, stakeholder priority can be divided into three levels. The first and most important comprises employees, customers, and investors, without whom the business will not be able to operate. Secondary to them are suppliers, community groups and media influencers.

Key Differences

A shareholder can sell their stock and buy different stock; they do not have a long-term need for the company. Stakeholders, however, are bound to the company for a longer term and for reasons of greater need.

Key stakeholders are individuals or groups that have a significant impact on the company's success or failure. Major investors, customers, or regulators are examples of key stakeholders. Major investors provide significant funding to the company and may have a say in important decisions or actions taken by the company.