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External Stakeholders (Suppliers (Interest (Want the business to be…
External Stakeholders
Suppliers
Interest
Want the business to be successful to ensure
repeat custom
They
depend on custom for survival
Influence
Can change
prices
Offer discounts
Customers
Interest
Best
quality
products
Lowest price
possible
Range
of goods and services
Influence
May recommend the business
Can choose whether or not to purchase goods
Banks and Lenders
Interest
Want to make sure
cash flow is stable
Want to
ensure repayment
Influence
Choose to
grant or withhold loans
Can extend or shorten the
repayment period
Can choose to
change the interest rates
Local Community
Interest
Companies
provide jobs
for an area
Businesses
offer goods and services
The community
cares about the area
Influence
Can make
complaints
Can
protest
against the company
Government
Influence
Legislation
- Minimum Wage Act, etc.
Can
issue bans
- smoking in local areas
Set
taxation rates
Offer or withhold
grants and licences