Business Objectives – Conflicts & Stakeholders

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Business Objectives – Conflicts & Stakeholders

McDonalds. Stakeholders You own a McDonalds restaurant in Reading. There are many groups who have an interest in your business! In pairs and in your exercise books, write down as many as you can think of. You have 10 minutes

McDonalds. Stakeholders

Conflict of business objectives consumers In striving to reach their business objectives businesses have many groups to satisfy local community workers directors/ owners Growth Jobs Environmental/ pollution/ jobs Price & Quality

Business Objectives & Conflicts Objectives may change over time Make Profit Growth Added Value Survival Good Reputation Customer Satisfaction New Markets BUSINESS OBJECTIVES Interested groups can have different objectives Owners Community Managers Workers Conflict can occur

Stakeholder in a business All business involves people and groups of people. These people or groups are involved with the business and are affected by it. These people or groups have an interest in the business

Internal & External Stakeholder in a business Owners / Directors Managers Workers Shareholders Pressure Groups BUSINESS STAKEHOLDERS Competition Agencies Trade Unions Local Community Customers/Consumers Suppliers Government Internal Stakeholders External Stakeholders

Stakeholder in a business Using the Stakeholder diagram describe what interests each group has in the business. You have 30 minutes Stakeholder Interest National Government Taxes; Employment tax, VAT (sales tax), Tax on profit (corporation tax) Agencies Health & Safety, Environmental Competition ……

Stakeholder in a business Interest Owners/Directors Profit Managers Salaries, Status Workers Income, Job Security, Motivation Shareholders Increase in share price, Dividends, Good profits Pressure Groups Consumer Association, Trade Unions, Environmental Agencies Health & Safety, Environmental Competition Take Over, Selling prices, Range of products Customers/Consumers Value for Money, Choice, Quality Suppliers Able to make a profit, Continuation of supply Local Community Jobs, Give something back National Government Taxes; Employment tax, VAT (sales tax), Tax on profit (corporation tax), Create Jobs, Meet legislation Trade Unions Workers well being