Lesson Objectives To consider what we mean by the term “Stakeholders” in relation to business.

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Presentation transcript:

Lesson Objectives To consider what we mean by the term “Stakeholders” in relation to business.

Starter – Who are stakeholders? http://www.tes.co.uk/teaching-resource/Who-are-stakeholders-6173961/

Starter- What are stakeholders? Anyone who has an interest (or stake) in a business THINK! For Newquay Tretherras, who are the stakeholders? (not steak-holders!))

An Example of Stakeholders

Stakeholders

Who Are The Stakeholders?

Internal or External Stakeholders?

Primary or Secondary Stakeholders?

What do Stakeholders Want?

Conflict

Stakeholder Influence

Stakeholder conflicts vs Shareholders Managers Employees Customers Suppliers Local community

Stakeholder conflicts Shareholders Managers vs

Stakeholder conflicts Shareholders What should happen to the profits? Managers What should happen to the profits? vs

Stakeholder conflicts Shareholders Want the profits to be paid out in dividends Managers Want the profits re- invested in the business vs

Stakeholder conflicts Shareholders & Managers Employees vs

Stakeholder conflicts Shareholders & Managers Want loyal, reliable and cheap workers Employees Want job security and high pay vs

Stakeholder conflicts Shareholders & Managers Customers vs

Stakeholder conflicts Shareholders & Managers Want customers prepared to pay high prices Customers Want quality at low prices vs

Stakeholder conflicts Shareholders & Managers Suppliers vs

Stakeholder conflicts Shareholders & Managers Want suppliers who can deliver quality stock on time and want to be able to pay on credit Suppliers Want to be paid promptly to help their cash flow vs

Stakeholder conflicts Shareholders & Managers Want to be able to run the business with little interference Local community Want a company which respects the wishes of the local community and sponsors local events vs

External Factors & Stakeholders

Task 1 Keith owns a white goods repair company, fixing dishwashers, washing machines and other household goods. Keith employs 2 skilled workers who also go to customers houses and fixes appliances on-site. Keith has a business loan with NatWest bank and he is currently repaying them £300 per month. Keith’s main supplier is Argon Appliances who are his main provider for spare parts and replacement machines.

Task 1 Create a presentation that shows the stakeholders for Keith and the effects of the following business decisions he has recently made: Increased annual salary of all employees by 5% Has sourced replacement washing machines from B&Q as it is cheaper than buying from Argon supplies. Allow emergency call out for all customers both evenings and weekends Increased call out charges by 12% in emergencies To buy a new premises in the town centre so he can complete repairs on appliances and store more stock. For each decision say: Who is affected? How that decision might affect them? Is there are conflict of interest?

Plenary

Homework Create a mind map of all of the stakeholders for the BT group. For each stakeholder, investigate how BT are trying to meet their needs. (5 Marks)