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