How do I answer a question concerning stakeholders in a business?

When answering a question about stakeholders 2 aspects should be analysed -influence and interest.

An influence is how they can exert pressure on the business or the power they have in the business. Power in a business only rests with Shareholders (for limited companies) and Managers. The only other stakeholders with considerable power are organisations like Central Govt which can introduce laws and regulations, but this is very limited power. Most stakeholders will exert influence for example customers can exert influence by consuming other products from other businesses.

An interest refers to what stakeholders are looking for in a business. For employees they will want fair wages and working conditions while customers will want to have a wide choice of products of high quality. 

AW
Answered by Adam W. Business Studies tutor

1707 Views

See similar Business Studies GCSE tutors

Related Business Studies GCSE answers

All answers ▸

What are two benefits of a USP (unique selling point) for a business like Coca Cola?


What are methods of promotion?


What are the 4Ps in Marketing?


Discuss the benefits of company (x) becoming a Ltd (private limited company)


We're here to help

contact us iconContact usWhatsapp logoMessage us on Whatsapptelephone icon+44 (0) 203 773 6020
Facebook logoInstagram logoLinkedIn logo

© MyTutorWeb Ltd 2013–2025

Terms & Conditions|Privacy Policy
Cookie Preferences