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Every business has stakeholders — individuals or groups with an interest in the business. Their interests often overlap, but they can also conflict. Understanding stakeholder relationships is essential for GCSE Business Studies.
A stakeholder is any individual or group that has an interest in, is affected by, or can influence a business.
| Stakeholder | Interest in the Business |
|---|---|
| Owners/Shareholders | Profit, return on investment, business growth, long-term value |
| Employees | Fair pay, job security, good working conditions, career progression |
| Customers | High quality products, fair prices, good customer service |
| Suppliers | Regular orders, prompt payment, long-term relationships |
| Managers | Business success, career advancement, performance bonuses |
| Local community | Employment, environmental responsibility, community support |
| Government | Tax revenue, employment, compliance with laws and regulations |
| Pressure groups | Environmental protection, social justice, ethical business practices |
| Banks/Lenders | Loan repayments, financial stability of the business |
Different stakeholders often want different things, which can lead to conflict:
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