Stakeholders

Multiple Choice

Why is it important for businesses to understand the different types of stakeholders and the potential conflicts between them?

• To improve product quality

• To increase employee satisfaction

• To make better strategic decisions

• To reduce marketing costs

Multiple Choice

Which of the following best describes a stakeholder in a business?

• An individual or group with an interest in and affected by the activities of a business

• Only the owners of a business

• Only the customers of a business

• Anyone who buys products from a business

Multiple Select

Which of the following are internal stakeholders?

• Owners

• Local community

• Employees

• Suppliers

Open Ended

Explain the difference between internal and external stakeholders, providing examples from the table.

Fill in the Blank

Shareholders are interested in ___ and dividends.

Multiple Choice

Match each stakeholder to their main interest in a business: Employees, Customers, Suppliers, Government.

• Employees - Job security and satisfaction; Customers - Value for money and service; Suppliers - Profitable trade and timely payments; Government - Compliance with laws and regulations

• Employees - Profitable trade; Customers - Compliance with laws; Suppliers - Job satisfaction; Government - Value for money

• Employees - Value for money; Customers - Job satisfaction; Suppliers - Compliance with laws; Government - Profitable trade

• Employees - Compliance with laws; Customers - Profitable trade; Suppliers - Job satisfaction; Government - Value for money

Multiple Select

Which three of the following are stakeholders in 'Sandwiches to Go'?

• Owners of the railway station

• Commuters who pass by Sandwiches to Go

• Staff who work at Sandwiches to Go

• Customers of Sandwiches to Go

• Owner of Sandwiches to Go

Multiple Choice

Which group is most likely to support giving employees a raise for hard work?

• Employees

• Shareholders

• Customers

• Suppliers

Open Ended

Explain one potential conflict that might arise between shareholders and stakeholders when a business decides to close down several stores, as seen in the Tesco example.

Multiple Choice

Which stakeholder is most likely to be affected if Tesco increased the prices of their products?

• Customers

• Managers

• Suppliers

• Workers

Fill in the Blank

Fill in the blank: Internal stakeholders are groups or individuals within an organisation who have an interest in the business, while ___ stakeholders are outside the organisation.

Open Ended

How might a business objective satisfy some stakeholders but not others? Give an example based on the stakeholders shown in the diagram.

Multiple Select

Select all the groups that are considered business stakeholders from the diagram.

• Owners

• Customers

• Shareholders

• Suppliers

Open Ended

Identify and explain two stakeholder groups that could be affected by GXC’s decision to invest in new machinery.

Multiple Select

Which of the following stakeholder groups may be negatively affected by the redundancy of 100 employees at GXC?

• Employees

• Customers

• Government

• Suppliers

Open Ended

How can peer assessment using WWW and EBI help improve a student’s answer to a business studies question?

Fill in the Blank

Fill in the blank: A __________ refers to a person or group of people who have an interest in a business’s performance.

Multiple Choice

According to the Learning Hierarchy, what does it mean if a student can teach others and repeat/apply in another context and at another time?

• They need help and possibly one to one support

• They understand and can repeat/apply

• They can teach others and repeat/apply in another context and at another time

• They follow you and understand

Multiple Choice

Which of the following groups can be considered external stakeholders of Apple?

• Apple employees

• Apple shareholders

• Local community

• Apple managers

Open Ended

Reflecting on today's lesson about stakeholders and stakeholder conflict, what is one key concept you learned that you think is important for understanding business relationships?