1.5.1 Business stakeholders - Word Drop

A stakeholder is any person, group or organisation with an ______ in a business. Common stakeholders include managers, employees, customers, suppliers, the local community and pressure groups. The owners of a company are its ______, who want a return on their investment. The ______ is an external stakeholder that sets laws and taxes businesses. Each group has different objectives, such as fair pay for employees or good ______ for customers.

Stakeholders are affected by business activity in different ways. A pay rise benefits ______ but leaves less profit for shareholders. A supplier is affected when a business changes the number of ______ it places. Customers may react to higher prices by shopping elsewhere. A ______ is an organisation that campaigns to change business behaviour, such as an environmental charity. Stakeholders can influence decisions, so a business must judge who has the most ______.

Conflict can occur when stakeholder objectives differ. Employees may want higher wages, but shareholders want higher ______. This can lead to industrial action such as a ______, which disrupts customers and suppliers. The government may also face pressure to ______ the business. Resolving conflict is difficult when different groups have opposing ______.