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AS Stakeholders :explode: (Benefits of responsibilities to stakeholders…
AS Stakeholders :explode:
Business stakeholders
Local communities
Government + government agencies
Employees + families
Special interest groups
Suppliers
Lenders
Customers
Benefits of responsibilities to stakeholders
Easy recruitment
Low labour turnover
Improved motivation
Effective communication
Reasonable credit terms
Good publicity
Financial support + government contracts
Good government relations
Loyalty + repeat purchases
Impact of business activity
Takeover of a competing firm
Significant application of IT into production methods
Expansion
Corporate social responsibility (CSR)
Businesses accept and consider interests of society in their activities
Conflicts from different stakeholder objectives
Who is most important
Costs
Compromise for solutions
Good or bad publicity