Aalyah Derby
Mind Map by Aalyah Derby, updated more than 1 year ago
Aalyah Derby
Created by Aalyah Derby over 3 years ago


Stakeholder mind map for business studies

Resource summary

1.1.1 The Government should treat businesses equally under the law, to prevent unfair competition that could damage business survival chances and also to establish good training links with other countries to allow international trade.
1.1.2 Customers are to be honest - to pay for goods bought or services received when requested. Customers should also not steal and make false claims about poor service, underperforming goods or failed items.
1.1.3 Suppliers are to supply goods and services ordered by the business in the time and condition as laid down by the purchase contractor suppliers service agreements.
1.1.4 The Local Community is to cooperate with the business, where reasonable to do so, on expansion and other plans. They should also meet reasonable requests from business for local services such as public transport (e.g. to allow staff to get work) and waste disposal.
1.1.5 Employees are to be honest, to meet the conditions and requirements of the employment contract, to cooperate with management in all reasonable requests and also to observe the ethical code of conduct.
1.1.6 Lenders are to provide agreed amount of finance on agreed date for the agreed time period.
1.2.1 Employees are to be treated within the minimum limits as established by national law e.g. minimum wage rate. They are also to be treated and paid in the ways described in the employment contract and also in most countries, employees are to be allowed to join a trade union if desired.
1.2.2 Businesses have the duty to government to meet all legal constraints, such as producing only legal goods, and to pay taxes on time
1.2.3 Suppliers are to be paid on time - as laid down either by law or by the service agreement agreed between the business and suppliers. Suppliers are also to be treated fairly by the purchasing business, e.g. not to have lower prices forced on them by a much larger and more powerful customer business.
1.2.4 Lenders are to be repaid on the agreed date and to be paid finance charges, e.g. Interest on loan
1.2.5 Customers are to receive goods and services that meet local laws regarding health and safety, design, performance and so on. Customers are also to be offered replacements, repairs, compensation in the event of failure of the product or service - to at least the minimum levels laid down by law.
1.2.6 The Local Community is to be consulted about major changes that's affect it, e.g. Expansion plans or changing methods of production
1.3.1 Customers purchase goods and services and provide revenue from sales, which allows the business to function and expand
1.3.2 The Government pass laws that restrain many aspects of business activity, provide law and order to allow legal business activity to take place and to achieve economic stability and encourage business activity
1.3.3 Employees provide manual and other labour services to the business, in accordance with employment contract, to allow goods and services to be provided to customers
1.3.4 Suppliers supply goods and services to allow the business to offer its products to its own customers
1.3.5 The Local Community provide local services and infrastructure to the business to allowing to operate, produce and sell within legal limits
1.3.6 Lenders provide finance to the business in different forms
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