BA Revision Session 3 - Stakeholders

What are stakeholders?

• Anybody who knows the name of the business

• Anybody who takes an interest in a business

• Anybody who works for the business

• Anybody who buys from the business

True or False: Stakeholders can be internal and external.

• True

• False

An internal stakeholder is:

• A Supplier

• A Bank

• An Employee

• The Local Community

The Government is interested in a business because:

• They will want to buy the products

• They want good quality products

• They want to be paid the money they are owed

• They want the business to comply with the law and pay taxes

Customers are interested in a business because:

• They want to be paid the money they are owed

• They want the employees to be paid a good salary

• They want the business to make the products they want at good prices

• They want to be paid a bonus

Which of the following is an external stakeholder?

• A Customer

• A Shop Floor Supervisor

• A CEO

• A Finance Manager

The correct order of engagement levels in the stakeholder’s engagement assessment matrix is:

• leading, supportive, resistant, unaware, neutral

• unaware, resistant, neutral, supportive, leading.

• resistant, supportive, neutral, unaware, leading.

• supportive, neutral, unaware, leading, resistant.

Where a stakeholder is identified as having high interest and low power, an organisation should:

• keep them satisfied

• monitor their interests and power

• manage them closely

• keep them informed

An example of an internal customer is:

• an employee of the organisation who is not a shareholder

• 
  a representative from the professional body associated with the organisation

• a regular client who also recommends the services of the organisation to new clients

• a shareholder in the organisation who is not an employee

Which of the following is the most important reason for communicating with stakeholders?

• to make them feel undervalued

• to make them work harder

• to build targets, budget, and costs

• to promote goals, benefits, and outcomes