大象传媒

Business stakeholders - EdexcelStakeholder objectives

Businesses need to be aware of their stakeholders. The activities of a business will affect many of their stakeholders. The stakeholders can also influence the decisions that a business makes.

Part of BusinessUnderstanding external influences on business

Stakeholder objectives

Different will expect different things from a business. Given their different interests in the business, sometimes their expectations can cause . The business has to balance these various interests.

Some examples of the different priorities of stakeholder groups:

  • and owners want to ensure the business is successful and are interested in how much profit the business can make
  • managers want a good salary and opportunities for further career progression
  • employees want good levels of pay, job satisfaction and job security, and may also be interested in career progression
  • customers want good quality and a range of products at reasonable prices
  • suppliers want to receive payments on time, and regular orders
  • the local community (people living in the area) may be looking for work, which local businesses can provide
  • want to increase knowledge of their cause, eg if a business is going to increase traffic pollution in their area
  • the government wants businesses to create more jobs in order to raise more money from taxes and save money on benefit payments