Resource summary

Question Answer
STAKEHOLDER CONCEPT Stakeholder: all groups within or outside the organisation that affect or are affected by the business's actions or in-actions They have interest( hold a stake) in the company's operation
MAJOR STAKEHOLDERS (9) 1. Shareholder's & Owners 2. Employees 3. Creditors 4. Customers 5. Suppliers 6. Competitors 7. Community 8. Public Interest Groups & Media 9. Governement
SHAREHOLDERS & OWNERS -ind or institutions that legally hold the shares in a public or private org -Mngt responsibility to provide shareholders a healthy return on investments -When managers trade insider info that is unavail to others, they undermine shareholders interest (cant be fined/jailed)
EMPLOYEES -indi that is hired by the of to perform specific duties which are packaged into a job Employers must meet certain minimum health and safety requirements for employees. Hazard-free, general health and safety of employees
CUSTOMERS -indi or businesses that buy goods and services -expect G&S to be avail at a fair price to meet their needs -demand that products are reliable, durable and of high quality & readily used
SUPPLIERS -indi or businesses that provide G&S for the agreed compensation -survival depends on org that uses their materials. Regularities of orders which are placed, promptness of payment, stability and soundness of org are impt to them -org also have a responsibility to be prompt in payment and maintain stability of org
CREDITORS -indi or institution to which $ is owed -interested in the business liquidity and financial health. Rely on regular payment and all debts to be paid. Profit>social responsibility
COMPETITORS -companies in the same/similar industry which offer a similar product/service -performance of org. one com's innovation may expand opportunities for all players -may also cooperate in responding to political or social issues
PUBLIC INTEREST GROUP(PIG) -PIG are non-profit, usually voluntary org whose mem have a common cause for which they seek to influence public policy -May not be directly affected by sth the org dos, but represent the interest of other stakeholders (EG: general public or workers)
MEDIA -communication channels through which news and info are disseminated -keep public informed on issues relevant to its health, welfare, safety
GOVERNMENT -a body of ppl that sets and administers public policy, and exercises political power through laws within a country -depend on org for tax revenue and economic development -has a responsibility to regulate biz and ensure environment is not spoiled
Show full summary Hide full summary


Preparing for Presentations
Micheal Heffernan
Introduction notes on SCRUM Project management framework.
Wesley Thomson
Unit 3.4: Effective People Management
How to Turn Business Failure into Business Success
Micheal Heffernan
Management Skills: MOTIVATION
Ciara Mooney
Leadership vs. Management
Fahima Noori
What is strategy?
MGT chapter 15
Bailey N
chapter 14 management
Rigo Sanchez
Top Down Strategy (Pros and Cons)
chapter 4 business introduction
Rigo Sanchez