INTRODUCTION TO STAKEHOLDERS GCSE Applied Business Studies
STARTER: Watch the following link and answer the questions, be ready to discuss with the class at the end. httpnews.bbc.co.uk/1/hi/england/7816217.stm Questions: In which economic sector does the quarrying firm operate – primary, secondary or tertiary? Explain your answer Why are quarrying rights so important for Stone Firms? Outline the main arguments that are made by opponents to an extension of quarrying in the area How might Stone Firms use public relations to gain the support of local opponents?
What is a Stakeholder? Any individual or organisation that is affected by activities of a business
Who are the stakeholders at Stuart Bathurst?
What businesses are you a stakeholder in?
Main Stakeholders in a Business Shareholders of the company Other owners – e.g. sole trader / partners in a partnership Management and employees (who may also be shareholders) Customers and Suppliers Banks and other organisations lending company money Government (particularly Inland Revenue) Trade Unions Pressure Groups
For each of the stakeholders identify one reason why they are a stakeholder in Dominos Pizza UK Shareholders of the company Other owners – e.g. sole trader / partners in a partnership Management and employees (who may also be shareholders) Customers and Suppliers Banks and other organisations lending company money Government (particularly Inland Revenue) Trade Unions Pressure Groups
Difference between a Stakeholder and a Shareholder Shareholders Hold shares in company – i.e. they own part of it Investors in the company Share in the profits and losses of the company Control the decisions of the company Stakeholders Have an “interest” in the activities of a business Do not own or control a business
In your own words explain the difference between stakeholders and shareholders.Extension: Consider which is most important to a business and explain your reasons.Explain any difficulties you have found when coming to your conclusions
Using what you have learned from all of your units consider the following statement and explain the impact on Dominoes Pizza UK Dominoes Pizza UK has many stakeholders, the Management team have decided that they will not be prioritising their customers but focusing on their own needs instead. What will be the effect of this on Dominoes Pizza? Justify who you consider are the mot important stakeholders at dominoes Pizza
Worksheet activities You have been emailed a worksheet about stakeholders. Please complete this and email it to Mrs Gibson firstname.lastname@example.org
Case study You are to create a booklet in a suitable format that will inform the employees of a business about the stakeholders in that business.
Guidance on what to include in your booklet – you can of course include your own choices of information Explanation and introduction to your chosen business. Aims and objectives of the business. What are stakeholders in a business Stakeholders of the chosen business Interests of stakeholders in the business Level of importance with justification Objectives of each stakeholder How can the objectives be managed to ensure the success of the business Choose your own business or the following link may help you: http://www.bized.co.uk/compfact/domino/domindex.htm
Plenary Consider one thing you have learned about stakeholders and be ready to share this with the class. How has what you have learned to day helped you to understand about running a successful business?