Stakeholders
Relationships/ Conflict
Mapping
Types of Enterprises
Types of Ownership
100
Name the two types of Stakeholders
Internal Stakeholders and External Stakeholders
100
Explain the 2 types of relationships within stakeholders
Cooperative - Win/Win
Competitive - Win/Lose
100
What does stakeholder mapping show you about your stakeholders?
It shows their interest and power in your business
100
Which type of enterprise does the following description suit?
"Run by the Government to provide services."
Public Enterprise
100
List the following:
The 2 PAYE Rates AND the 2 Corporation Tax Rates
PAYE: 20% / 40%
Corporation Tax: 12.5% / 15%
200
List the 9 main stakeholders we have looked at.
1. Business Owner/ Entrepreneur
2. Managers
3. Employees
4. Investors
5. Consumers
6. Local Community
7. Suppliers
8. The Government
9. Interest Groups
200
State and explain one strategy used by businesses to AVOID stakeholder conflict.
Regular & Honest Communication
Good CSR (Corporate Social Responsibility)
Stakeholder Engagement Plans
200
As a local Centra, in what quadrant would you place Employees?
High Interest, Low Power
200
"A PLC can sell shares to the general public."
True / False
False
200
Outline all types of ownership have Unlimited Liability.
Sole Traders and Partnerships
300
What type of stakeholders are the local community and why are local communities considered stakeholders?
They are influenced by the businesses activities and jobs are created in the local area however they are not within the business so they are external.
300
Name a situation where a competitive relationship between stakeholders may benefit you personally.
Example: Two competing car manufacturers would push each other to increase quality, after sales customer service, performance, benefitting you
300
If a stakeholder was High Interest but Low Power, how would you keep them satisfied according to stakeholder mapping?
You would keep them informed.
300
Outline two reasons for changing from sole trader to a Private Limited Company (Ltd).
Limited Liability
Becoming a Separate Legal Entity
Continuity of Business
300
Suggest a reason why a government would nationalise a company?
To save a critical industry from failing
400
How might the wants and needs of an investor for a business change over time?
Happier with higher risks at the start up stage and no dividend for a larger share.
When business matures, they will expect a dividend.
400
What is the most casual form of Conflict Resolution?
A Meet and Talk is the most casual and is for the least serious of disputes.
400
Why would a business perform stakeholder mapping?
Helps allocate resources effectively and encourages proactive conflict resolution
400
Demonstrate disadvantages that Co-operatives face compared to Private Limited Companies (Ltd).
Limited growth potential / struggle for investment / slower decision making.
Greater access to capital / Easier to access credit / BOM and CEO make quick decisions.
400
What is incorrect about the following statement?
"Sole Traders become Private Limited Companies for many reasons including: Lower Taxes, Limited Liability, Selling Shares to the Public, Continuity of Existence and Becoming a Separate Legal Entity"
They are unable to Sell shares to the public.
500
In your opinion as a group, write three reasons you agree or disagree with this statement:
"Suppliers are the most important stakeholders."
You may base your answers on a specific business and give it as an example.
Must give three valid reasons that are relevant to the business curriculum and to the given example.
500
What is the difference between Conciliation and Arbritration?
Conciliation: A third party comes in to open communication and may offer a solution. Two parties must agree a solution themselves
Arbitration: A third party comes in and offers a solution that can be binding or non-binding, depending on what the parties have agreed to
500
As discussed in class, stakeholder mapping is different for every company.
Discuss how suppliers would be mapped differently if you were looking at McDonalds VS Independent Mechanic
McDonalds: Suppliers are High Interest and low power as McDonalds is a large corporation and can pressure them into favorable deals or walk away.
Mechanic: Suppliers are Low Interest and Low power because if one mechanic stops buying from them it won't make a massive difference.
500
Analyse and explain a Not-for-Profit's impact at a national level.
Provide Vital Social Services
Helps Solve Social Issues and Raise Awareness
Influences Government Policy
500
During Privatisation, conclude why would interests group have cause for concerns?
Interest groups include trade unions who would be protecting the members who would be employees of the business and there may be lay-offs during this process.