Specification Topic: Business stakeholders
Q1 Fill in the gaps
A stakeholder is anyone who has an __________________ in, or who is ___________________ by, the
activities of a business. Every business will have many different stakeholder groups. Each group will
have different ____________________.
Certain stakeholders have a considerable ________________ over the way a business carries out its
activities. The extent of this influence is dependent on the stakeholders overall __________________
to the firm. Business owners therefore need to consider different stakeholder groups when setting
their own ____________________. As a result, firms may decide to _______________ the needs of
some stakeholder groups in an attempt to __________________ a more important group of
stakeholders. There is also a risk of ______________________ between different stakeholder groups.
Choose from: influence; ignore; conflict; objectives; affected; importance; satisfy; interest;
objectives
Q2 Anagram time! Unjumble the different stakeholder groups and add them to the diagram
Stakeholders of
a business
Anagrams: Respures urgops Hosed sharerl (worsen) Melee posy Eco strums
Olcal tummy icon Slipper us Angaersm Teh notgevermn
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Specification Topic: Business stakeholders
Q3 Match it! Match each stakeholder group to its main objective
3.1 Shareholders
a. regular orders and payment on time
(owners)
3.2 Employees b. low noise/pollution and job creation
3.3 Customers c. job security, fair levels of pay and good working conditions
3.4 Managers d. a lawful business which creates employment and pays taxes
3.5 Suppliers e. a fair and honest business
3.6 Local community f. quality products which are perceived as value for money
g. job security, further managerial career opportunities and good
3.7 Pressure groups
fringe benefits
3.8 The government h. a successful business with high dividend payments/profit levels
Q4 What would you do?
You are an independent restaurant that also offers a takeaway and delivery service in the
local area. As the owner of the business, you have decided to extend the opening hours of the
restaurant, but no longer provide a delivery service. How would you deal with each of the
following groups of stakeholders that each have some influence over the business?
What would you do?
4.1 “I am a customer who regularly uses
the delivery service – I am now thinking
about using a different takeaway which
will deliver to my door.”
What would you do?
4.2 “I am an experienced chef and also
deliver takeaways to customers. I am
concerned that there will now not be
enough work for me. I am therefore
thinking about applying to a local
takeaway that has a vacancy for an
experienced chef.”
What would you do?
4.3 “I live nearby to the restaurant. I am
worried that extended open hours,
possibly beyond midnight, will generate
more noise and anti-social behaviour.”
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Specification Topic: Business stakeholders
Q5 Mini case study
You are the finance director of a small private limited engineering company which made £5,000
profit last year. You recently received the following information from some of the different
stakeholder groups linked to the business:
Stakeholder group Cost
The 3 employees would like a better equipped staff room £5,000
The two shareholders (owners) would like to receive a dividend payment £5,000
A local school is looking for a sponsor to fund some new equipment in the design £5,000
and technology department
The managers believe all of the profit should be reinvested into a new piece of £5,000
machinery to improve product quality
5.1 Identify possible conflicts between two stakeholder groups identified in the table above.
Explain the reasons behind your choice
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