Identifying Social Stakeholders in Business Organizations
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Questions and Answers

What term is used to describe the major groups that business enterprises are responsible to?

  • Interest groups
  • Corporate social responsibility groups
  • Shareholders
  • Stakeholders (correct)
  • Which of the following is NOT one of the six major stakeholder groups mentioned in the text?

  • Creditors
  • Government
  • Suppliers
  • Competitors (correct)
  • What is the main responsibility of business enterprises towards their stakeholders?

  • To minimize costs
  • To address the concerns and interests of the various stakeholder groups (correct)
  • To prioritize the interests of shareholders
  • To maximize profits
  • Which stakeholder group is mentioned last in the list provided in the text?

    <p>Government</p> Signup and view all the answers

    Which of the following is NOT a major stakeholder group that business enterprises are responsible to?

    <p>Regulators</p> Signup and view all the answers

    Study Notes

    Social Stakeholders in Business

    • Social Stakeholders Managers are responsible for identifying various interest groups that affect or are affected by a business organization's functioning.
    • There are six major groups that business enterprises are primarily responsible to:

    The Six Major Groups

    • Shareholders: Individuals or organizations that have invested in the company and own its shares.
    • Employees: People who work for the organization and are affected by its policies and decisions.
    • Customers: Individuals or organizations that purchase products or services from the business.
    • Creditors: Entities that provide loans or credit to the business, such as banks or suppliers.
    • Suppliers: Companies or individuals that provide goods or services to the business.
    • Society: The broader community that is impacted by the business's operations and decisions.
    • Government: The regulatory body that sets rules and laws that govern the business's operations.

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    Description

    Learn about the various interest groups that can impact and be impacted by the operations of a business entity. Understand the major stakeholders including shareholders, employees, customers, creditors, suppliers, society, and government.

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