Podcast
Questions and Answers
Which of the following is a characteristic of an internal stakeholder?
Which of the following is a characteristic of an internal stakeholder?
- Primarily concerned with maximizing profits
- Not affected by the actions or outcomes of the business
- Does not work for the business
- Directly related to the core operations of a business (correct)
What is a primary interest of owners as internal stakeholders?
What is a primary interest of owners as internal stakeholders?
- Maximizing profits (correct)
- Staying employed and receiving wages
- Having a direct relationship with the core operations
- Being affected by the actions of the business
Who could be considered an external stakeholder of a business?
Who could be considered an external stakeholder of a business?
- Employees
- Managers
- Suppliers
- Consumers (correct)
What is a common interest of managers and employees as internal stakeholders?
What is a common interest of managers and employees as internal stakeholders?
What distinguishes an external stakeholder from an internal stakeholder?
What distinguishes an external stakeholder from an internal stakeholder?
Study Notes
Stakeholders
- An internal stakeholder is an individual or group within an organization who is directly affected by the organization's actions.
Owners as Internal Stakeholders
- A primary interest of owners as internal stakeholders is to maximize profits and increase the value of their investment.
External Stakeholders
- Examples of external stakeholders of a business include customers, suppliers, government, and local communities.
Common Interests of Managers and Employees
- A common interest of managers and employees as internal stakeholders is job security and working conditions.
Distinguishing Internal and External Stakeholders
- What distinguishes an external stakeholder from an internal stakeholder is their level of involvement and connection to the organization; internal stakeholders are directly employed or invested, while external stakeholders are outside the organization but affected by its actions.
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Description
Test your knowledge of business stakeholders with this quiz. Learn about the different types of stakeholders, their impact on business operations, and their relationships with the business. Internal and external stakeholders, as well as their influence on and by the business, are covered in this quiz.
