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3.4.3 Shareholders v Stakeholders - Coggle Diagram
3.4.3 Shareholders v Stakeholders
Stakeholders
Internal
Individuals or groups inside a business
Employees
Job Security, Good Working Conditions & Fair pay
Managers & Directors
Meets goals and objectives
Maximise profits
Business Owners
Profit & Growth
External
Individuals or groups outside of a business
Customers
High Quality and fairly priced products and services
Customer service
Shareholders
Maximise returns on investment
Creditors
Suppliers
Paid quickly & establish long-term contracts
Pressure Groups
Ethical, positive impact & contributing to local community
Influence on poicies & actions
Government
Operate within the law & contribute to local economy
Affect or Affected by the actions of a business
Stakeholder Approach
Interdependence between stakeholder groups
Benefits & Drawbacks are shared equally between groups
Decreases profits
Communicate effectively
Tries to minimize negative impacts of operations on groups
Socially Responsible
Media Scrutiny
Shareholder Approach
Meeting needs of Shareholders
Maximising Profits
Inc dividends
Improve share Price