Which of the following are stakeholders of a business?

Which of the following are stakeholders of a business quizlet?

Examples of stakeholder groups include shareholders , employees, trade unions, customers, financial Investors, suppliers, managers and the government.

Which of the following are stakeholders of a company?

Stakeholders can affect or be affected by the organization’s actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners ( shareholders ), suppliers, unions, and the community from which the business draws its resources.

What are the responsibilities of a business to its stakeholders?

Businesses also have a responsibility to customers to provide good, safe products and services. Organizations are responsible to the general public to be good corporate citizens. Firms must help protect the environment and provide a good place to work.

What are the 4 types of stakeholders?

The easy way to remember these four categories of stakeholders is by the acronym UPIG: users, providers, influencers, governance.

What is an example of an external stakeholders in a business?

External stakeholders are those who do not directly work with a company but are affected somehow by the actions and outcomes of the business. Suppliers , creditors , and public groups are all considered external stakeholders.

Which of the following are internal stakeholders in a business?

Internal stakeholders are entities within a business (e.g., employees, managers, the board of directors, investors). External stakeholders are entities not within a business itself but who care about or are affected by its performance (e.g., consumers, regulators, investors, suppliers).

How do you identify stakeholders in a business?

Here’s how to create a stakeholder list: Analyze the project documentation. Look for people, groups, departments, customers, and project team members affected by the project. Pull project team members together to brainstorm about other affected parties that aren’t included in the documentation. Make a stakeholder list.

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What do you mean by stakeholders?

The international standard providing guidance on social responsibility, called ISO 26000, defines a stakeholder as an “individual or group that has an interest in any decision or activity of an organization.” Stakeholders may include: Suppliers. Internal staff, such as employees and workers.

What are the different types of stakeholders?

Types of Stakeholders #1 Customers. Stake: Product/service quality and value. #2 Employees. Stake: Employment income and safety. #3 Investors. Stake: Financial returns. #4 Suppliers and Vendors. Stake: Revenues and safety. #5 Communities. Stake: Health, safety, economic development. #6 Governments. Stake: Taxes and GDP.

Which stakeholder is most important in a business?

Shareholders /owners are the most important stakeholders as they control the business. If they are unhappy than they can sack its directors or managers, or even sell the business to someone else.

Who are the top three most important stakeholders in a business?

Who are a company’s most important stakeholders ? Customers. Peter Drucker defined the purpose of a company as this; to create customers. Employees. Shareholders . Suppliers, distributors and other business partners. The local community. National Government and regulatory authorities.

What is the most important responsibility of a business?

The first and most important responsibility of a business should be towards the shareholders or the owners who have invested money. The shareholders expect dividends and appreciation in the value of shares, which depends upon the company’s performance.

Why are stakeholders so important?

Importance means the priority given to satisfying stakeholders ‘ needs and interests from being involved in the design of the project and in the project itself in order for it to be successful. Secondly, influence and power of a stakeholder can affect the success or failure of an initiative.

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How do stakeholders communicate risk?

How to Communicate Risk to Stakeholders Involve Your Team. Project managers are often held responsible for communicating with stakeholders , but they shouldn’t be the only line of communication . Consider Stakeholder Location. Utilize technology. Use Reporting and Alerts.

What do we mean by stakeholders and their interests?

What do we mean by stakeholders and their interests ? Stakeholders are those who may be affected by or have an effect on an effort. Secondary stakeholders are people or groups that are indirectly affected, either positively or negatively, by an effort or the actions of an agency, institution, or organization.