Who are the Stakeholders? IB Business Management | A Level Business!
#WhoaretheStakeholders? #IBBusinessManagement #ALevelBusiness!

They have interest in business activities. This interest may be direct, means financial, in terms of profit, dividend, salary, and commission, or, indirect like GDP, job creation and environmental protection.
What I am talking about?
Good morning!
Welcome to Business Bites, podcast episode.
Today’s, topic is, Stakeholders.
Stakeholders are any organisation, individual, or groups of individuals, who have an interest in business activities, or functions because, the actions of business will affect them directly or indirectly.
Stakeholders can be internal, or external. Internal stakeholders are people whose interest in a company comes through a direct relationship, such as employment, ownership or investment.
External stakeholders are those people who do not directly work with a company but are affected in some way by the actions and outcomes of said business. Suppliers, creditors, government, local residents, and public groups are all considered external stakeholders.
Let us discuss, different stakeholders and their interest.
Employees interest lies in job security, wage levels, working condition and opportunities for personal and professional growth.
Managers are interested in salary and benefits, job security, achieving business targets and responsibilities.
Shareholders are interested in share price, the amount of dividends, and security of their investments.
External stakeholders like suppliers are interested in speed of payment and stability in relationship.
Customers seek value for their money, while the local community is interested in safe and clean environment. Finally, the government’s interest is how the business operates to create employment opportunities, value of output produced and wider impact on the society.
Remember, stakeholders, and shareholders, are two different concepts.
Business decisions and activities can have both positive and negative impacts, this sometimes leads to stakeholders’ conflicts.
Students, it’s time to think. Be a thinker!
Due to COVID pandemic, all schools and colleges are delivering lessons using digital platforms. Think for a while, how the change in lessons delivery system has impacted your own school’s stakeholders.
Thank you, and Happy learning!!

Key words:
Stakeholders, IB Business Management, A Level Business, Edu Ignites, Rk, Ask RK, Who are the stakeholders?, Shareholders Vs Stakeholders, internal stakeholders, external stakeholders, stakeholders conflict,

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