3.1.4 - Stakeholders GapFill

A stakeholder can be defined as a person or a group of people that has   a want a need a wanted an interest  in, and is affected by, a business.  This is sometimes in   annoyance anger conflict war  with the interests of other stakeholders.  For example, the owners and shareholders of the business are interested in profit levels and keeping costs low; however, employees are interested in higher wages and good working   conditions time days hours , which will increase costs.

The internal stakeholders of a business are the owners, the employees and the   chiefs managers workers organisers .  The managers are interested in sales levels and possibly having their   bonus addition windfall advantage paid on time, which again is in conflict with the owners, who want to keep costs low.  There are quite a few external stakeholders in a business, and it is important to know how they might impact business activity.  For example,   compression gravity depression pressure groups such as Greenpeace and War on Want have put pressure on clothes retailers and banks to try to get companies to be more ethical in the way that they trade.  The local   estate community garden park is interested in the business, possibly because of   water pollution wine profit levels or because it may be taking trade away from smaller local shops.  The government is interested in the business because it wants to know that the business will pay its taxes on time and adhere to any laws, e.g. pay at least the minimum wage.  Customers are interested in a business because they want to know that they can get   inequality free quality freedom products and services at low prices.  Low prices mean low profits and so will be in conflict with the interests of the owners and shareholders, who want high profits.  Customers also want products and services that will satisfy their needs and wants, and they want to know that the products they need will be   wanted available unavailable hunted in the shops.