Internal Stakeholders
This internal stakeholder works to carry out the day-to-day tasks in a business.
Employees
This stakeholder provides the goods and services a business needs to operate
suppliers
This stakeholder buys goods or services from the business
customers
These stakeholders offer similar products or services to the same market
competitors
This stakeholder sets laws and regulations businesses must follow
the government?
This stakeholder group provides direction and makes major decisions for a business
Managers
Name one reason why suppliers are interested in a business’s success
regular payment or long-term contracts
What is the main interest customers have in a business?
value for money or quality products?
Name one reason why a business should be aware of its competitors
to stay competitive or adjust marketing strategy
Name one government department or agency relevant to business
HMRC or the Competition and Markets Authority?
Name two internal stakeholders and describe their different interests
employees (job security, fair pay) and owners (profit, business growth)
What might happen to supplier relationships if a business delays payment
loss of trust or refusal to supply in future
Name one way customer feedback can influence a business decision
improving product design or service
How can competition benefit customers?
lower prices, better quality, or more choice?
What is the government’s interest in successful businesses
tax revenue, employment, or economic growth?
Internal stakeholders may resist this type of business activity due to fear of job loss
organisational change or restructuring
Name one way a business might influence its suppliers.
negotiating for lower prices or faster delivery
What might happen if a business regularly ignores customer complaints
loss of loyalty or damage to reputation?
What might a business do if a competitor launches a new product
respond with innovation, promotion, or price changes
Name one way government regulation can increase business costs.
health & safety compliance, minimum wage laws, or environmental controls
Explain how poor communication can affect relationships between two internal stakeholders
a breakdown in trust or reduced motivation between employees and management
How could supply chain disruption impact both the business and its customers
delays in production or product shortages leading to customer dissatisfaction
Explain how customer expectations might affect a business's pricing strategy
the need to balance affordability with profitability to meet customer demand
Explain how benchmarking against competitors can help improve performance
identifying areas for improvement or adopting best practices?
Explain how government grants or schemes can positively impact small businesses
supporting start-up growth, innovation, or regional development?