Unit 1.5 Understanding External Influences

Anyone who has an interest in the activities of a business is known as a?

• Shareholder

• Stakeholder

Identify the two main objectives of shareholders.

• To make improvements in the business

• To make money through a share of the business' profits

• To recruit highly skilled employees

• To make money on the sale of shares

Identify the two objectives which the customers of a business are likely to have.

• To spend as much money as possible

• To receive the best quality service and/or products available to them

• To purchase the best value for money product/s on the market

• To buy as many products as possible

Identify the two objectives which employees of a business are likely to have.

• To be paid the best possible wage and rewards

• To have as many days absent as possible

• To have job security

• To have friends at work

Which stakeholder is most likely to impact the performance and morale of employees?

• Suppliers

• Customers

• Managers

• Government

Which stakeholder is most likely to have the biggest impact on the quantity and quality of the products that a business sell?

• Pressure groups

• Employees

• Managers

• Suppliers

Which stakeholder is most likely to object to a business' activity to protect the area where the business is located and the people that live there?

• Suppliers

• Local community

• Shareholders

• Managers

This stakeholder typically tries to influence businesses or the government in support of a particular cause.

• Local community

• Pressure groups

• Government

• Employees

This stakeholder influences the amount of tax a business pays, and its decisions influence the performance the economy.

• Shareholders

• Pressure groups

• Local community

• Government

Which one is not a typical stakeholder of a business?

• Shareholders

• Limited company

• Government

• Customers