Chapter 6: Stakeholders

Stakeholders are X or Y within society who have an interest in an organisation's operation and performance

The following are stakeholders

• Local Communities

• Customers

• Employees

• Shareholders

• Government Agencies

Social responsibility is a term describing

• A modern fad that will pass

• duties a business has towards future generations

• duties a business has towards stakeholder groups, such as employees, customers and the government

• how a business increases its sales through careful marketing

A person with low interest and high power is identified as

• Keep satisfied

• Key player

• Minimal effort

• Keep informed

The outcome of stakeholder mapping can help to determine the right stakeholder approach, which might include

• Push Communications

• Consultation

• Ignoring

• Participation

• Partnership

External Factors which influence stakeholder relationships are:

Communication is

• Exchange of information or secrets between many people

• Exchange in business information conducted by board members only

• Non-verbal only

• Exchange of information or ideas between two more more parties

It's easy to keep stakeholders happy because

• they all have the same needs

• there are highly skilled people in the workplace good at keeping stakeholders happy

• I don't agree with the statement above

• you only need to pay them large dividends

Suppliers are happy if

• they are paid on time

• they get repeat business

• they get a fair price

• they get to borrow your sports car at the weekend

• they get a sole-supplier agreement

Stakeholders and shareholders are the same thing

• True

• False