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Business Stakeholders



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  • 1. GCSE BUSINESS STUDIES Stakeholders and Environmental Issues
  • 2. Learning Objectives
    • All students will be able to define the term stakeholder
    • Most students will be able to explain at least four different stakeholders in a typical business
    • Some students will be able to describe different stakeholders interests, influence and expectations in a business.
  • 3. Business Stakeholders
    • Stakeholder groups:
    Management Employees Government Suppliers Environment Local Community Customers Shareholders The Business
  • 4. Business Stakeholders
    • Responsibilities to stakeholder groups:
    • Shareholders – Generate profits and pay dividends
    • Customers – provide good quality products at reasonable prices. Safety, honesty, decency and truthfulness
    • Employees – health and safety at work, security, fair pay
    • Suppliers – pay on time, pay fair rates for the work done, provide element of security
  • 5. Business Stakeholders
    • Local Community – provide employment, safe working environment, minimise pollution and negative externalities – provide external benefits?
    • Government – abide by the law, pay taxes, abide by regulations
    • Management – their aims versus those of the organisation as a whole
    • Environment – limit pollution, congestion, environmental degradation, development etc
  • 6. Business Stakeholders
    • Tensions:
    • Profits versus higher wages
    • Expansion versus development
    • Production versus pollution
    • Supplier benefits versus consumer prices/lower costs
    • Survival of the business versus needs of stakeholders
  • 7. How Business can effect the Environment
    • Urban blight – excessive development, inappropriate development, use of greenbelt land
    • Waste – land-fill? re-cycling? burning?
    • Energy use – renewable energy, non-renewable resources
    • Global Warming – fact or fiction?
    • Pollution:
      • Noise
      • Air
      • Land
      • Sea
      • Water
  • 8. Externalities
    • Impact on a third party of a business decision
      • Those affected not involved in the decision
      • Negative externalities – negative effects of business activity – pollution, urban development, etc
      • e.g. Out of town shopping centres – impact on city centres
  • 9. Externalities
    • Positive Externalities:
      • Benefits to third parties of business activity
      • E.g. new infrastructure as a result of development, side effects of research and development, technology (the Internet?), convenience, improved standards of living
      • Out of Town shopping centres – greater ease of access, everything in one place, pleasant environment to shop in etc
  • 10. Externalities
    • Out of Town shopping centres:
      • Highlights complexity of the interaction of positive and negative externalities
    • Government policies – encourage business activity that leads to positive externalities and discourage those that lead to negative externalities.