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Questions and Answers
What term is used to describe the major groups that business enterprises are responsible to?
Which of the following is NOT one of the six major stakeholder groups mentioned in the text?
What is the main responsibility of business enterprises towards their stakeholders?
Which stakeholder group is mentioned last in the list provided in the text?
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Which of the following is NOT a major stakeholder group that business enterprises are responsible to?
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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.
