Describe the concept of stakeholders and identify the stakeholder groups relevant to an organization

1. Communication of Business
Chapter 2 – Foundations of Business

2. Learning Outcomes
1. Describe the concept of stakeholders and identify the stakeholder
groups relevant to an organization
2. Discuss and be able to apply the macro-business-environment
model to an industry or emerging technology
3. Explain other key terms related to this chapter including:
entrepreneur; profit; revenue

3. Analyzing Apple’s Success
Why did Steve Jobs and Steve Wozniak succeed while so many failed?
Possible Factors:
• Superior Products?
• Dedicated Employees?
• Management Engagement?
• Right Place at Right Time?
• Steve Jobs Himself?

4. Profit: Who is the Recipient?
• Profit=Revenue left over after all bills paid
• Who Profits?:
• Individuals
• Social or educational services for the
entire public (ex. American Red Cross)
• Profit and Non-Profit Organizations have
similar guiding principles

5. Stakeholders-
Interest in the success or failure
• Business: customers,
vendors, employees,
landlords, bankers
• Other: general public,
the environment and
various government
departments

6. 1. Human Resources
2. Operations
3. Marketing
4. Accounting
5. Finance
6. Information Technology
Functional Areas of Business

7. Functional Areas of Business-
Human Resources
HR Manager Responsibilities
• Skills and capabilities
• Staffing plans
• Recruitment
• Performance management
• Succession plans.
• Compensation and benefits

8. Functional Areas of Business
Operations
Operations managers turn
resources into goods or
services:
• Tangible Products (ex. Apple)
• Intangible Products
(hospitals and healthcare)
• Quality Maintenance
• Supply chain management

9. Functional Areas of Business-
Marketing
Marketers develop the benefits
and features, including:
• Price
• Quality
• Delivery
• Promotion
• Relationship management

10. Functional Areas of Business-
Accounting
What Accountants Do?
• Measure, Summarize, and Communicate
Financial & Managerial Info
• Advise on Financial Matters
Two Fields of Accounting:
• Financial
• Managerial

11. Functional Areas of Business-
Finance
•Plan, obtain, and manage company
funds
•Assess company fund needs
•Track fund receipt times
•Plan investments in a plant and its
equipment

12. Functional Areas of Business-
Information Technology
Information technology
(IT) managers:
• Build computer and network
infrastructure
• Implement security protocols
• Develop user interfaces and apps
for customers

13. External Forces in Businesses: Macroenvironmental Effect
• Influences
Include: changes
in income,
preferences in food
types, changes in
government
requirements

14. Identify key takeaways you learned from this chapter
Key Takeaways

15. The Fundamentals of Business slide decks by Obada Al-Dimashki, Alfonsina Chang, Deanna
Davies, Edward Perry, Zachary Russell, and Robin Yap are licensed under a
Creative Commons Attribution-ShareAlike 4.0 International License, except where otherwise
noted.

16. This slide deck was created with the support of eCampusOntario as
part of the Open at Scale Business project.
eCampusOntario is a not-for-profit corporation funded by the
Government of Ontario.
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