Stakeholders and their objectives
Many people are involved in running a business. Some have direct interest while others have indirect interest in the running of the business. These individuals or groups are known as stakeholders.
|Stakeholders||Who are they and their Objectives|
|Owners|| They invest capital in the business and get profits from the business|
Profits, growth of the business
| Workers|| Employees of the business who give in their time and effort to make a business successful|
Job security, job satisfaction and a satisfactory level of payment for their efforts
| Managers|| Employees of the business who manage a business. They lead and control the workers to achieve organisational goals|
High salaries, Job security, Status and growth of the business
|Consumers|| These are the people who buy the goods and services of the business. |
Safe and reliable products, value for money, proper after sales service
|Government||Government manages the economy. The government charges a tax from the business and also monitors the working of businesses in the country|
Successful businesses, employments to be created, more taxes, follow laws.
| The community||Community is all the people who are directly or indirectly affected by the actions of the business. |
They expect more jobs, environmental protection, socially responsible products and actions of the business.