1.5 Stakeholders, Technology and the Economy

Who are stakeholders?

• Owners and shareholders of a business.

• Local competitors interested in the activities of a business.

• Individual or groups of individuals with a vested interest in the activities of a business.

• Individual or groups of individuals who wish a business to failure.

Which two are internal stakeholders of a business?

• Owners

• Customers

• Suppliers

• Employees

Who are external stakeholders?

• Local community

• Managers

• Shareholders

• Employees

Who might have conflict with the shareholders over increasing the selling prices of products?

• Suppliers

• Customers

• Employees

• Government

Who may be in conflict with each other over higher wages?

• Government

• Employees

• Shareholders

• Suppliers

A business lowers costs by negotiating a better purchasing agreement. Which two stakeholders may be affected the most?

• Pressure groups

• Supplier

• Shareholders

• Employees

What is a pressure group?

• An organisation or individuals that benefit from the activities of a business.

• An organisation or individuals that suffer from the activities of a business.

• An organisation or individuals that campaigns against the behaviour of a business.

• An organisation or individuals that get a share of a company's profits.

What is e-commerce?

• The buying and selling of goods and services online.

• The buying and selling of goods and services in store.

• The buying and selling of goods and services from abroad.

• The buying and selling of goods and services from local companies.

Which two are benefits of e-commerce for businesses?

• Allows businesses to sell from any store in the world.

• Allows businesses to trade worldwide so increasing the potential customer base.

• Enables only large businesses to compete globally.

• Enables businesses to start up anywhere, even a garage!

Which two are disadvantages of e-commerce?

• It is a highly competitive environment.

• Only customers in the same country can buy online.

• High costs due to fixed costs related to shops and stores.

• Poor reviews can damage the reputation and sales of the business.