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Management Wk 3 (Stakeholders (anyone with a vested interest in the…
Management Wk 3
Stakeholders (anyone with a vested interest in the business)
Employees
Customers
Lobby groups
Competitors
Governments
Media
Unions
Suppliers
Communities
Shareholders
Trade and industry associations
Incorporated
Recognised as a legal entity
Limited liability
Private
Shares owned by private in dividuals
Not available to public
Public
Anyone can purchase shares through a stock exchange
Often a consequence of growth
Organisations
For-profit
Non-incorporated
Sole Traders
Partnerships
Incorporated
Private companies
Public companies
Not-for-profit
Charities (pvt)
Government (plc)
Non-incorporated
Not recognised as a legal entity
Have unlimited liability
Not-for-profit organisations
Charities
Profit = surplus, losses = deficits
Tax exempt
Staffing: paid staff - market rates or below market rates, volunteers
Operate in a lower cost-base
Government organisations
Funded through taxpayer revenue
Exist for taxpayer benefits
Supply goods/services that cannot be supplied by the private sector
Public goods (ie. defence, transport and infrastructure)
Merit goods (ie. health services, education)
Designed for value maximisation
Each ministry, department and local authority given a strict budget
Increases in productivity is key to success and sustainability
External Environment
Specific
Public pressure groups
Customers
Suppliers
Competitors
General
Political/legal
Sociocultural
Demographic
Economic
Global
Technological