1.4 Stakeholders

any person or organization with a direct interest in, and is affected by the activities and performance of a business.

are the owners of a limited liability company. Shares in a company can be held by individuals and other organizations.

members of the organization, people who work for the business who are INSIDE the business and involved daily. They each have interests relating to the business.

-Owners / shareholders - profits, growth, increase in value of business, maximise dividends, achieve capital gain -Managers and directors - salary, maximise benefits, promotion, status, long0term financial health -Staff / Employees - pay, working conditions, job security, promotion

do not form part of the business but have a direct interest or involvement in the organization.

Customers - price, customer service, quality Competitors - rivalry for motivation, benchmark performance Government - observe laws, pay taxes, create wealth & employment Pressure groups (individuals with a common concern (such as environmental protection) who seek to place demands on organizations to act in a particular way or to influence a change in their behavior.)- whatever their particular focus is (mainly that business operates ethically) Suppliers - sales, payment as agreed, good working relationships

Employees vs Managers/owners - cutting staff benefit for profit Supplier vs business - paying full price for supplies vs discounts for bundles Directors vs Shareholders - fairer distribution of profits to shareholders/employees instead of overpaid management vs more pay for top management because high risk and decision making Owners vs pressure groups Owners vs government