Stakeholders

What is the best definition of a stakeholder?

• Someone who owns shares in a business.

• • A person who works for a business.

• Any individual or group with an interest in a business.

• Someone who manages a business's finances.

The _________ can be concerned about the environmental impact of business activities, such as noise or pollution.

What is the best way for a business to resolve stakeholder conflict?

• Consider compromises that address multiple stakeholder objectives.

• Ignore stakeholder concerns and focus on profits.

• Prioritise the needs of shareholders above others.

• Reduce communication with external stakeholders.

Which of the following is an internal stakeholder?

• Customers

• Employees

• Local community

• Government

What is the main objective of customers as stakeholders?

• Increased dividends from the business.

• Better working conditions for employees.

• Higher levels of environmental regulation.

• Low-cost, high-quality products or services.

Why is it important for a business to consider its stakeholders?

• Stakeholders are legally required to control the business.

• Stakeholders manage the day-to-day operations of a business.

• Stakeholders can influence business success or failure.

• Stakeholders always provide financial investments.

Stakeholder conflict occurs when the ​ (a)   of different stakeholders clash due to a business decision. For example, ​ (b)   may want higher wages, while ​ (c)   want to reduce costs to maximise profits.

• objectives
• employees
• owners