IB Business Management summary of Chapter 1.4 - Stakeholder made from Cambridge IB Business Management for the IB Diploma (2nd edition). Easy to understand with dynamic charts.
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Business Management 1.4 – STAKEHOLDER
Stakeholder concept: the view that businesses and their managers have responsibilities to a
wide range of groups, not just shareholders
STAKEHOLDERS INTEREST - All stakeholders can´t be either positively or negatively affected,
that is why there are conflicts of interests.
INTERESTS BUSINESS RESPONSIBILITIES TO
STAKEHOLDERS
Employees Employment security Adhere to country laws
Wage levels and similar about the workers
benefits that other companies Training and job security,
Good conditions of payment over minimum
employment wages, good working
Participation in decision- conditions, involve them in
making decision-making
Managers Employment security Job security
Salary and benefits similar Competitive salaries and
INTERNAL
than other businesses other benefits
Responsibilities offered and Opportunities for
status of the post responsibility and career
Opportunity for profit sharing advancement
or share purchase scheme
Shareholders Annual dividends similar than Should operate according
other businesses company´s law
Share price rising Annual account presented
Security of investment to shareholders
Ability to sell shares when Strategies to increase
required shareholder value
EXTERNAL
Customers Value for money Consumer protection and
Product quality and safety accurate advertising
Guarantees Not taking advantage of
Service levels vulnerable consumers (not
Long-term rewards for royalty high pressure selling tactics)
Assurances about quality,
delivery dates, service
levels, continues supplies
Suppliers Speed of payment Effective two-way
Level and regularity of orders relationships
Fairness of treatment Avoid pressure on smaller /
weaker suppliers to cut
prices
Pay fair prices and invoices
promptly
Government Job creation Pay taxes
Taxes paid Keep accounting records
Output produced (+ GDP) Provide information to the
Impact on society government
Keep within legal limits
Banks (other Security that loans will be Pay interest and capital
creditors) repay owed
Prompt payment of interest
and capital
1
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