People in business
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business interest groups: 1. Business Interest groups - Ibec and ISME 2. Trade Associations - SIMI 3. Other interest groups - trade unions e.g SIPTU and IFA - Irish Farmers Association
relationships between stakeholders
stakeholders in business
employee
producer
employer
consumer
investor
manager
entrepreneurs
government
supplier
service producer
local community
co-operative - work towards a common goal (win-win)
boycotting: Consumers refuse to buy goods or services from a firm to show their dissatification with the business e.g because it has exploited workers
dynamic relationship - constantly changing
dependant relationship - need each other
competitive relationship - work towards different goals
co operative relationship - work together towards a common goal
consists of individuals, households, and organisations that are located close to the business
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Relationships between stakeholders:
co operative relationship
firms that provide raw materials to the business
Lobbying: This involves trying to persuade decision-makers to support laws or rules that give an advantage to your industry or organisation
Competitive relationship
person who spots a gap in the market and comes up with an idea that they can turn into a business
people or organisations that provide the entrepreneur with the money needed to establish the business
employer recruits staff to enable this organisation to carry out its business
employees are recruited by the employer to work in the business in return for a wage
producer takes raw materials and transforms them during manufacturing process into finished products
Dependent relationship
people who buy goods and services for their personal use
Dynamic Relationship
responsible for the day to day running of the business and ensures the firm achieves its goals
body of people that govern the country and imposes tax on business
provides services needed to operate the business