Internal Stakeholders
These people invest money into a business and expect a return in the form of dividends.
Who are shareholders?
Their main interest is good value, quality, and after-sales service.
Who are consumers?
Employees depend on this group for wages and safe working conditions
Who are employers?
This process involves deciding which stakeholders are most important to focus on.
What is stakeholder prioritisation?
Implementing green energy and reducing waste shows commitment to this principle.
What is environmental sustainability?
The group of people employed by a business to carry out tasks.
Who are employees?
These external stakeholders may benefit if a business provides local jobs.
Who is the local community?
This phrase describes how the success of one stakeholder group often depends on the actions of another.
What is stakeholder interdependence?
A local community group might have low power but high interest. How should they be managed?
What is keep informed?
Avoiding false advertising is an example of being ethically responsible to this stakeholder.
Who are customers?
Their main role is to provide vision, innovation, and direction to the enterprise.
Who are entrepreneurs?
Their main interest is getting paid on time.
Who are suppliers/service providers/producers?
This type of relationship happens when two stakeholders pursue conflicting goals.
What is a competitive relationship?
Shareholders with significant financial investment fall into this quadrant.
This type of CSR focuses on charitable donations and community support.
What is philanthropic responsibility?
Internal stakeholders who want fair treatment, safe working conditions, and involvement in decision-making.
Who are employees?
These stakeholders expect businesses to comply with health, safety, and employment laws.
Who are government?
This term describes how the same stakeholder groups can be co-operative in one situation and competitive in another.
What is a dynamic relationship?
A government regulator who has high power but may only have moderate interest. Which strategy should a business use?
What is keep satisfied?
The type of CSR where a business focuses on being profitable and financially sustainable.
What is economic responsibility?
This group benefits from the company’s success through dividends, share price increases, and voting rights.
Who are shareholders?
These stakeholders value Corporate Social Responsibility (CSR) programmes.
Who are local community?
This type of relationship occurs when stakeholders work together to achieve shared goals.
What is a co-operative relationship?
Ignoring stakeholders who should be kept informed can result in this negative outcome.
What is misunderstandings, dissatisfaction, or loss of support?
The type of CSR where a business does what is morally right, even beyond legal requirements.
What is ethical responsibility?