Stakeholder

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Stakeholders

employees a person employed for wages or salary, especially at non-executive level.

how do employees influence business? They can influence the success of an organisation by their productivity and efficiency in the job, duties and tasks they do everyday. They can also resort to industrial action if they disagree with working conditions, pay or company policies.

stakeholders a person with an interest or concern in something, especially a business

how do stakeholders influence business? They have a big say in how the aims of the business are decided, but other groups also have an influence over decision making

managers a person responsible for controlling or administering an organization or group of staff.

how do managers influence a business? influence a business everyday by the decisions they make. This could include what products and services to offer and who to hire or fire.

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costumer - a person who buys goods or services from a shop or business

how do costumers influence a business? They can influence a business by deciding to continue to purchase goods and services from the organisation. They can choose to take their custom elsewhere.

A supplier is a person or entity that is the source for goods or services.

how does a supplier influence a business? They can decide whether to raise prices for orders which can obviously affect a firm's profits. Also a supplier's reliability could affect production. Suppliers can also change credit terms which may have cash flow issues for a company and they could decide whether or not to allow discounts for bulk orders or loyal customers.

A local community is a group of interacting people sharing an environment.

how can a local community influence a business? It can influence a business by petitioning against building or planning permissions for new developments.

Government - the group of people with the authority to govern a country or state; a particular ministry in office.

how can the Government influence a business? A Government can influence a firm by introducing new laws that can affect operations such as the National Minimum Wage, or they can raise Corporation Tax which would eat into a firm's profits.

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An owner is a person who owns something.

how does a owner influence a business? In a small business, the most important or primary stakeholders are the owners, staff and customers. In a large company, shareholders are the primary stakeholders as they can vote out directors if they believe they are running the business badly.

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shareholder - is an owner of shares in a company.

how does a shareholder influence a business? In a large company, shareholders are the primary stakeholders as they can vote out directors if they believe they are running the business badly. They are also owners of a corporation.