Stakeholders of a business - including stakeholder relationships

Stakeholders of a business

1. Stakeholders 1

2. Chapter 1 What are stakeholders? Stakeholders are anybody (individuals, groups and organisations) that are affected by the business. UNIT 1

3. Chapter 1 Who are the stakeholders in a business? Fig. 1.3 Stakeholders in a Business UNIT 1

4. Chapter 1 Fig. 1.3 Stakeholders in a Business UNIT 1 Who are the stakeholders in a business?

5. Investor Employer Employee Manager Service Provider Chapter 1 Who are the main stakeholders in a business? Entrepreneur An entrepreneur is a person who identifies an opportunity in the market and takes a personal and financial risk to turn the opportunity into a business. Patrick and John Collison UNIT 1

6. Entrepreneur Employer Employee Manager Service Provider Chapter 1 Who are the main stakeholders in a business? Investors are people or organisations that provide the entrepreneur with the capital (money) needed to set up and run the business. Investors expect to receive a return for their investment. The Dragons on Dragon’s Den Investor UNIT 1

7. Investor Entrepreneur Employee Manager Service Provider Chapter 1 Who are the main stakeholders in a business? An employer hires or employs people to carry out tasks so the business can achieve its goals. Dunnes Stores Employer UNIT 1

8. Service Provider Manager Employer Investor Entrepreneur Chapter 1 Who are the main stakeholders in a business? Employee An employee is recruited by an employer to carry out agreed tasks for an agreed salary. Example: A mechanic is hired to repair cars in a garage. UNIT 1

9. Employee Service Provider Employer Investor Entrepreneur Chapter 1 Who are the main stakeholders in a business? A manager runs the business and is responsible for managing resources (such as people, equipment, finance and time) to ensure the business achieves its objectives. Manager Example: A local manager in Carrefour. UNIT 1

10. Employee Manager Employer Investor Entrepreneur Chapter 1 Who are the main stakeholders in a business? A service provider is a firm that offers services that support a business and enable it to operate successfully. Example: Emirates NBD provides banking services such as loans and debit cards to businesses. Service Provider UNIT 1

11. Interest Groups Consumer Supplier Government Local Communities Competitors Chapter 1 Who are the main stakeholders in a business? Producer A producer turns raw materials into finished products to sell to consumers. Crisp production in the kitchen at Keogh’s UNIT 1

12. Government Local Communities Supplier Producer Interest Groups Competitors Chapter 1 Who are the main stakeholders in a business? Consumer A consumer is a person who buys or uses a business’s product or service. Example: A student who buys a bar of chocolate in the cafeteria. UNIT 1

13. Government Local Communities Consumer Producer Interest Groups Competitors Chapter 1 Who are the main stakeholders in a business? A supplier is a business that sells raw materials or goods to another business for further production and resale. Example: Farmers supply materials to local businesses. Supplier UNIT 1

14. Local Communities Supplier Consumer Producer Interest Groups Competitors Chapter 1 Who are the main stakeholders in a business? Government The government is a group of elected representatives that run and govern the country. UNIT 1

15. Government Consumer Supplier Producer Interest Groups Competitors Chapter 1 Who are the main stakeholders in a business? Local Communities A local community is a group of people who live, work or attend school near the business. Example: Spinney’s works with local farmers. Or a business sponsoring local events. UNIT 1

16. Producer Interest Groups Consumer Supplier Government Local Communities Chapter 1 Who are the main stakeholders in a business? Competitors A competitor is a business that is competing with another similar business in order to win customers and gain market share in the marketplace. Mr. Price and Dealz UNIT 1

17. Competitors Producer Consumer Supplier Government Local Communities Chapter 1 Who are the main stakeholders in a business? An interest group is a group of people or an organisation that campaigns for a common goal by putting pressure on decision-makers. Interest Groups UNIT 1

18. Chapter 1 What is the role of interest groups in business? Interest groups use a variety of methods to apply pressure on decision makers. Boycotting involves refusing to buy goods or services from the business in order to show disapproval of the firm’s actions or policies. Lobbying involves putting pressure on decision-makers or trying to persuade them to support a law or measure that would be beneficial to the interest group. Negative publicity campaigns usually involve the interest group communicating negative aspects of a proposed policy or law to the media. UNIT 1

19. Relationships Between Stakeholders