People and Relationships in Business

Types of Business

Types of Interest Groups

Stakeholders

Internal

External

Relationships in Business - need examples!!

Co-operative Relationships

Competitive Relationships

Commercial Business

Non-commercial Business

e.g. Apple

St. Vincent de Paul

Entrepreneurs

Managers

Employees

Employer/Owner

Investor

Customers

Competitors

Suppliers

Producers

Service Providers

The community

The government

Interest Groups

Trade Union

Trade Association

e.g. IFA / ITAA

e.g. SIPTU / ASTI

Dynamic Relationships

Dependent Relationships

Entrepreneur & Investor: Entrepreneur is honest with information and in return the investor offers finance for a reasonable share

Employer & Employee: An employer might pay for external training for employees, they then become more skilled for their employer, and gain a new qualification which may help towards a promotion

Rival Businesses: Offering lower prices or a wider product range to consumers

Supplier & Business: If supplier is unreliable in completing orders or in the quality of goods/ the business is not paying their supplier on time as promised

Consumer & Producer: The consumer needs the producer to make the goods & the Producer needs the consumer to buy the product to make a profit and survive

Entrepreneur & Investor: the entrepreneur needs the investors capital and the Investor needs the percentage returns on the entrepreneurs profits.

Employee & Employer: Sometimes employees can buy shares in the business they work for - becoming an investor as well as an employee