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Summary IB Business Management 1.4 - Stakeholder
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  • Course
  • IB Business Management (BM1.4)
  • Institution
  • High School
  • Book
  • Business Management for the IB Diploma Coursebook

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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  • No
  • Chapter 1.4
  • December 15, 2019
  • 2
  • 2019/2020
  • Summary

Subjects

  • business management
  • business and management
  • unit 1
  • standard level
  • stakeholder
  • ib
  • bm
  • business management
  • 14
  • sl
  • summary

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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

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