1.5 Stakeholders in Business

A _________________ is an individual or group who has an interest in the activities of a business.

List at least one group of people that has an interest in a business e.g. ‘customers’

Which stakeholder would have the following objective?

Objective: Make sure the business is successful and profitable

• employees

• Suppliers

• owners

• local government

Which stakeholder would have the following objective?

Objective: Good levels of pay, job satisfaction, job security, and may also be interested in career progression

• employees

• customers

• owners

• managers

Which stakeholder would have the following objective?

Objective: Good quality and a range of products at reasonable prices

• local community

• customers

• owners

• government

Which of the following are internal stakeholder groups?

• customers

• employees

• government

• local community

• owners

Which of the following are external stakeholder groups?

• customers

• employees

• government

• managers

• pressure groups

Give a reason why it’s important for businesses to meet the needs of all stakeholder groups.

Why might the objectives from different stakeholders cause conflict?