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Stakeholder Keywords

Stakeholders

QuestionAnswer
An entrepreneur .....takes the initiative and risk associated with setting up a new business with the objective of making profit.
Investors ....provide finance to start and develop a business.
Suppliers ....are businesses that supply raw materials required for production to producers.
A Producer ....is a business that is engaged in transferring raw materials into finished product to sell to consumers.
Consumers ....are people who buy goods and services for their own use.
An employer ....engages employees to perform job tasks and pays them wages/salaries for their work.
Employees ....workS for employers in the production of goods and services and in return for their time and effort they receive a wage or salary.
Trade Unions ....is an organisation that represents employees. It protects and furthers their interests and improves their bargaining power with employers.
The Government .....is a stakeholder on behalf of Society. It influences a business through its policies and legislation.
Interest Groups ....wish to influence the political and decision making process but are not part of the political structure of the country. They attempt to influence government and businesses to further the interests of their members.
Trade Associations .....an organisation set up to represent the interests of all firms in an industry. They lobby the government on behalf of the industry.
A dynamic relationship ....is a relationship that is constantly changing.
Co-operative relationship ....Stakeholders co-operate with each other, help one another for their mutual benefit and work towards a common objectives
Competitive relationship Stakeholders compete with each other and have different objectives.
Created by: bccns business
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