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  2.  
  3. CCEA
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  5. Business Studies
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  7. Unit A2 1 - Making Business Decisions

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Stakeholder Objectives

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A look at all the stakeholders in a business, their objectives, how conflict may arise and types of conflict between different groups i.e. between customers and shareholders. A look at strategic evaluation and its advatnages and disadvantages.

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  • June 30, 2016
  • 3
  • 2014/2015
  • Lecture notes
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Stakeholder Objectives

 A stakeholder is a person or group who has a direct influence on the business entity.

Stakeholder Groups:

 Owners -> dividend, profit, growth, survival and environment.
 Managers -> salary, job satisfaction, bonus, success and growth.
 Employees -> good salary, job security + job satisfaction, promotion opportunities.
 Suppliers -> payment + business in the LT.
 Customers -> Constant supply, value for money and safe goods.
 Creditors -> Repayment, profit and interest.
 Society -> Clean environment, jobs + local impacts -community investment.
 Government -> Operating legally, tax receipts, job opportunities, and apprenticeships.

Stakeholder Objectives:

 Each group - own objectives and therefore adopt a different perspective regarding activities of the
business.
 This is likely to influence the business in different ways.
 Depending on where the balance of power lies - make the business more powerful + manipulate
stakeholder behaviour - consistent with the achievement of business objectives.
 However, situations in which power of stakeholders would appear to be more influential.

Influence of Stakeholder Groups:

 Owners:
o Seen as most powerful, ultimate responsibility for decisions taken, however this is
dependent of the type of business.
o Sole trader and partnership - most powerful.
o Limited Companies - Responsibility for strategic + operational decision making - delegated
to BOD.
o Shareholders would be consulted and opportunity to provide opinions - AGM.
o The major shareholders may also be on the BOD.
 Managers:
o Members of the management team - responsible for making key decisions on a day-to-day
basis.
o In addition to long term strategic context.
o In profit-orientated businesses, managers more determined to achieve success since their
terms/conditions of employment linked to business performance.
 Employees:
o Can exercise power - involved heavily daily operations and interfacing with customers.
o The output of an employee's workload contributes to the employer's objectives.
 Suppliers:
o Reliant upon suppliers to participate fully in all aspects of the supply chain to contribute
effectively to the achievement of business objectives.
 Customers:
o Final link of the supply chain.
o Ultimate decision whether or not to acquire the product/service, from the vendor.
o Powerful external stakeholder.

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