1.4 Stakeholders

Sandra Vazquez
Mind Map by Sandra Vazquez, updated more than 1 year ago
Sandra Vazquez
Created by Sandra Vazquez over 4 years ago


Business and Management IB program 1.4 Stakeholders

Resource summary

1.4 Stakeholders
1 Stakeholder
1.1 Individual or group who is afected by the business and has interest in its activities
1.1.1 All interdependent May have conflicts for desagreements
2 External
2.1 Suppliers, Customers, Government, Community
2.1.1 Suppliers Supply B. with what they need to provide goods and services
2.1.2 Customers Vital for B. survival Have need and wats (market research) Have rights and are protected by the law
2.1.3 Government Law and regulations Economic policies Favor employement and generate wealth
2.1.4 Community Employees and Cutomers from local area May be afected negatively by B.
3 Internal
3.1 Owners, Managers, Employees
3.1.1 Employees Make assigned activity Have skills and knowledge Receive wage or salary Participation in decision making New skills
3.1.2 Owners - Right on profit - Involved in management (M or Mn) - Promote innovation - Organize production factors - Take risks Shareholders Have shares Mayor Shareholders
3.1.3 Mangers Organize Make decisions, delegate others Plan Control Are countable Are entrepreneurs
4 Advantages
4.1 Attract better applicants
4.1.1 Higher salaries Good relationships No pressure group
5 Costs
5.1 Tend to be more expensive
6 Ethical Perspective
6.1 They take more inconsideration stakeholders, for maximization of investment
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