Stakeholders – GCSE Business Studies Revision

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Who or what are they?!

  • They are people with an interest in what a business is doing
  • They can be anyone from the owners of the business to the people who are slightly affected by what the business does
  • SHAREholders are different to STAKEholders: SHAREholders are the owners of the business and nobody else, but STAKEholders can be the owners or just someone affected

Internal

  • Internal stakeholders (AKA primary stakeholders) are people who work for the company
  • The business affects them because it is their job
  • Employees, managers, owners, etc.

External

  • External stakeholders (or secondary stakeholders) are people who don’t work for the business
  • External means outside – outside the business
  • Suppliers, the government, the local community, etc.

What they want

  • They are affected by the things a business does, so will try to get it to do what they want
  • Owners want more profits
  • Workers want a better working environment
  • Suppliers want more orders of materials
  • Different decisions benefit different stakeholders
  • When there’s a conflict, the stakeholder with the most influence will usually get their way
  • The power of each sort of stakeholder will be different for each business
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About Matt

I like writing, filmmaking, programming and gaming, and prefer creating media to consuming it. On the topic of consumption, I'm also a big fan of eating.
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