Leadership & Management(Stakeholders)

It plots different stakeholders in terms of their relative level of interest in the business and the power that they have.

• External stakeholder

• Stakeholder

• Internal stakeholder

• Stakeholder map

Answer explanation

A stakeholder map visually represents different stakeholders based on their interest and power regarding the business. This tool helps in understanding their influence, making 'stakeholder map' the correct choice.

They are individuals and groups within a business.

• External stakeholder

• Stakeholder

• Internal stakeholder

• Stakeholder map

Answer explanation

Internal stakeholders are individuals and groups within a business, such as employees and management, who are directly involved in its operations. This distinguishes them from external stakeholders, who are outside the organization.

They are groups outside a business.

• External stakeholder

• Stakeholder

• Internal stakeholder

• Stakeholder map

Answer explanation

External stakeholders are groups outside a business that can affect or be affected by its operations. This distinguishes them from internal stakeholders, who are part of the organization.

They are groups or individuals who have an interest in a business.

• External stakeholder

• Stakeholder

• Internal stakeholder

• Stakeholder map

Answer explanation

The term 'stakeholder' refers to any group or individual with an interest in a business, making it the correct choice. 'Internal stakeholder' and 'external stakeholder' are specific types, while 'stakeholder map' is a tool for visualization.

It is a internal stakeholder.

• Bank

• Customers

• Supplliers

• Employees

Answer explanation

Employees are considered internal stakeholders as they are part of the organization and directly involved in its operations, unlike banks, customers, and suppliers, who are external to the organization.

It is a external stakeholder.

• Government

• Shareholders

• Owners

• Employees

Answer explanation

The government is considered an external stakeholder as it influences and regulates business operations, unlike shareholders, owners, and employees who are internal stakeholders directly involved in the company.

Which of the following is not an example of an external stakeholder?

• Competitors

• Owners

• Lenders

• Suppliers

Answer explanation

Owners are internal stakeholders as they have a direct interest in the company. In contrast, competitors, lenders, and suppliers are external stakeholders, as they operate outside the organization.

What are some of the interests of local communities in a business's success?

• Increasing competition

• Bringing jobs to the area

• Reducing transportation links

• Limiting communication with other businesses

Answer explanation

Local communities are interested in a business's success primarily because it brings jobs to the area. This creates economic opportunities and improves the overall quality of life, making 'Bringing jobs to the area' the correct choice.

What is the influence of shareholders as stakeholders in a business?

• Owning the business

• Managing government regulations

• Providing raw materials

• Maximizing return on investment

Answer explanation

Shareholders, as stakeholders, primarily influence a business by seeking to maximize return on investment. Their ownership stake drives the company's focus on profitability and financial performance.

What is the role of customers as stakeholders in a business?

• Providing raw materials

• Maximizing return on investment

• Purchasing products or services

• Managing government regulations

Answer explanation

Customers play a crucial role as stakeholders by purchasing products or services, which directly impacts a business's revenue and success. This choice highlights their importance in the business ecosystem.