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People and Relationships in Business - Coggle Diagram
People and Relationships in Business
Types of Business
Commercial Business
e.g. Apple
Non-commercial Business
St. Vincent de Paul
Types of Interest Groups
Trade Union
e.g. SIPTU / ASTI
Trade Association
e.g. IFA / ITAA
Stakeholders
Internal
Entrepreneurs
Managers
Employees
Employer/Owner
Investor
External
Customers
Competitors
Suppliers
Producers
Service Providers
The community
The government
Interest Groups
Relationships in Business
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need examples!!
Co-operative 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
Competitive Relationships
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
Dynamic Relationships
Employee & Employer:
Sometimes employees can buy shares in the business they work for - becoming an investor as well as an employee
Dependent Relationships
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.