Businesses have many different stakeholders who each have a key interest in how a business operates. Stakeholders often have influence over the decisions made by business organisations.
supplierA business which provides other organisations with raw materials or goods. build their reputation on the quality of the goods or materials they provide. If the quality is good, delivered on time and in the quantity required suppliers will win repeat orders and secure future business.
Suppliers have an interest in a business doing well so that they:
want regular orders from their customers (the other businesses)
want prompt payment
Suppliers can influence how a business operates by:
raising or lowering prices of goods
changing credit termsThe length of time a firm has to pay a supplier.
changing delivery times
increasing or decreasing the quality of their goods/materials