Stakeholders

Stakeholders

1. A stakeholder is a person group who has an interest in a business

2. owner

   • the owner would benefit this by getting more money and which can be expanding business and getting a better range of products which is making more money.
   • the owner would not benefit this by a loss of money and staff which may lead to closing down stores and leading to losing customers.

3. supplier

   • the supplier would benefit this by getting more money by selling more products to the shop if it is doing well.
   • the supplier would not benefit this by losing the amount of orders and losing money which will be not making as much profit.

4. creditor

   • the creditor would benefit this by getting the money quicker by paying off the loans to the shop and expanding the business to get more money by interest.
   • the creditor would not benefit this by not getting the money quicker what the loaned to the business and wouldn't want to do as much more loans in the future.

5. customers

   • the customers would benefit this by a better range of products and a better price.
   • the customers would not benefit this by the less range of quality products and maybe losing the store they shop at.

6. employees

   • employees would benefit this by getting a pay rise and more hours and have a better reputation and working better
   • the employees would not benefit this by could cut their hours and get less money or maybe lose their jobs

7. community

   • the community would benefit this by getting people jobs.
   • the community would not benefit this by making people redundant which increasing unemployment in the community.

8. a creditor is a person or an organisations that are owed money by the business

9. customers is people who purchase goods or services from the business

10. customer service covers all aspects of how the customer is dealt with by the business. there may be a special department that deals with customer queries or problems

11. profit is the money left over from the sales of goods ( revenue ) or services after the business has paid all of its costs. you calculate this by profit = revenue - costs

12. revenue is the money coming into the business from sales

13. suppliers is the people who supply goods or stock to the business

14. shareholders are people who invest by buying shares and become joint owners of a business. they recicve a percentage of the profit the business makes in return for buying the shares.

15. sponsorship is a way of publicising a business by giving money for a supporting or social event in exchange for publicity of some sort.