Stakeholder Identification
Name one stakeholder involved in business activities.
owners, employees, consumers, suppliers, community, government, future generations, environment
Which employee helps the accountant verify, organize, and store financial records?
Accounts clerk.
Who owns the business and invests capital?
Owner(s) or business investors.
Name one way the government affects business operations.
Government regulations, taxes, licenses, law enforcement, health and safety laws.
A café runs out of coffee. Name two stakeholders affected.
Café shortage: Owner, supplier, employees, consumers, community.
Which stakeholder provides labor services to a business?
Employees.
Who ensures the business operates according to accepted standards?
Compliance officer.
Name one responsibility of a business owner.
Make business decisions, invest capital, hire employees, manage operations, or plan strategies.
Give one role of the community in business activities.
Community provides workforce, supports business through patronage, and benefits from CSR (corporate social responsibility).
A business increases product prices due to supplier costs. Which stakeholders are most concerned?
Price increase: Consumers, suppliers, community, possibly employees.
Who is affected by a business’s decisions but is not directly involved in operations?
Community, environment, or future generations.
Give one role of a compliance officer in a business.
Ensures the business follows professional and legal standards, executes compliance policy, and monitors operations.
How do consumers influence business operations?
Consumers influence product demand, quality expectations, pricing, and business reputation.
How can government regulations influence employees’ roles?
Regulations may require employees to follow safety, reporting, or operational procedures.
A clothing store recalls defective products. Name at least three stakeholders involved.
Product recall: Owner, accounts clerk, compliance officer, employees, consumers, supplier, community.
Which stakeholders are concerned with environmental sustainability and future impact?
Environment and future generations.
What is the main function of an accounts clerk?
To support the accountant by verifying, organizing, processing, and storing financial records.
Give an example of a decision that an owner might make based on consumer feedback.
Example: Reducing prices or improving product quality after consumer feedback.
Explain why businesses must consider community needs.
Businesses must consider community needs to maintain reputation, social license to operate, and long-term support.
A mobile app is launched; explain the role of consumers and suppliers.
Mobile app launch: Consumers (feedback, downloads), suppliers (software support, integration), owner (marketing and decisions), employees (development, customer service), government (data protection, regulations).
Name three stakeholders who influence a business financially.
Owners, consumers, suppliers.
Explain how employees can impact customer satisfaction.
Employees can impact customer satisfaction through quality of service, accuracy, friendliness, and efficiency.
Explain why owners need to consider both consumers and employees in decision-making.
Owners must balance consumer needs (demand, satisfaction) and employee needs (motivation, productivity) to run a sustainable business.
How does the government ensure that businesses comply with laws?
Government enforces laws, monitors compliance, inspects operations, imposes fines or corrective actions.
A factory pollutes a river. Discuss the impact on the community, government, and future generations.
Factory pollution: Community (health impact, complaints), government (regulations, enforcement), future generations (environmental sustainability).