Podcast
Questions and Answers
Which of the following is a primary stakeholder in a business?
Which of the following is a primary stakeholder in a business?
- Local communities (correct)
- Media commentators
- Trade bodies
- Competitors
What is a common interest of customers as stakeholders?
What is a common interest of customers as stakeholders?
- Increasing stock value
- Safe and reliable products (correct)
- Prompt payment from the company
- Growth in community employment
What negative impact might stockholders face due to unethical behavior?
What negative impact might stockholders face due to unethical behavior?
- Higher employee turnover
- Loss of dividend payments (correct)
- Delayed product deliveries
- Increased operational costs
Which group of stakeholders is primarily interested in tax revenue?
Which group of stakeholders is primarily interested in tax revenue?
Which of the following represents a secondary stakeholder?
Which of the following represents a secondary stakeholder?
What interest do suppliers typically have in a business?
What interest do suppliers typically have in a business?
What aspect of unethical behavior may affect employees most significantly?
What aspect of unethical behavior may affect employees most significantly?
Which of the following is an interest of community stakeholders?
Which of the following is an interest of community stakeholders?
What is a primary concern for stockholders in a company?
What is a primary concern for stockholders in a company?
Which group of stakeholders primarily seeks economic growth and employment for local residents?
Which group of stakeholders primarily seeks economic growth and employment for local residents?
What impact might unethical behavior have on customers?
What impact might unethical behavior have on customers?
What is a significant concern for creditors as stakeholders?
What is a significant concern for creditors as stakeholders?
Which of the following best describes a requirement of suppliers or vendor partners?
Which of the following best describes a requirement of suppliers or vendor partners?
What type of stakeholder typically includes government and regulators?
What type of stakeholder typically includes government and regulators?
What is a common result for stockholders when faced with unethical business practices?
What is a common result for stockholders when faced with unethical business practices?
What is an interest of retail or wholesaler stakeholders?
What is an interest of retail or wholesaler stakeholders?
Flashcards
Stakeholder Definition
Stakeholder Definition
Any individual or group affected by or affecting an organization's actions.
Primary Stakeholder
Primary Stakeholder
Groups directly involved in a business's daily operations.
Secondary Stakeholder
Secondary Stakeholder
Groups that have an indirect but important interest in business operations.
Shareholder Interest
Shareholder Interest
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Employee Interest
Employee Interest
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Unethical Impact on Stockholders
Unethical Impact on Stockholders
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Unethical Impact on Customers
Unethical Impact on Customers
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Unethical Impact on Suppliers
Unethical Impact on Suppliers
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Stakeholder
Stakeholder
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Primary Stakeholder
Primary Stakeholder
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Secondary Stakeholder
Secondary Stakeholder
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Shareholder Interest
Shareholder Interest
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Employee Interest
Employee Interest
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Unethical Impact on Stockholders
Unethical Impact on Stockholders
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Unethical Impact on Customers
Unethical Impact on Customers
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Unethical Impact on Suppliers
Unethical Impact on Suppliers
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Study Notes
Stakeholder Concept
- A stakeholder is any individual or group affected by, or able to affect, an organization's actions, decisions, policies, practices, or goals.
- Stockholders/Shareholders are investors or owners of businesses.
Types of Stakeholders
- Primary Stakeholders: Have a direct stake in an organization's success (e.g., shareholders, employees, customers, local communities, suppliers).
- Secondary Stakeholders: Have a public or special interest stake, often more indirect (e.g., government, civic institutions, social pressure groups, media, trade bodies, competitors).
Stakeholder Interests
- Stockholders/Shareholders: Growth in company stock value, timely dividend payments.
- Employees: Stable employment, fair pay, safe work environment.
- Customers: Fair exchange, quality products/services.
- Suppliers/Vendor Partners: Prompt payment, regular orders.
- Retailers/Wholesalers: Accurate deliveries, quality products, timely and reasonable costs.
- Federal Government: Tax revenue, compliance with legislation.
- Creditors: Principal and interest payments, repayment according to schedule.
- Community: Employment of local residents, economic growth, environment protection.
Stakeholder Impact of Unethical Behavior
- Stockholders/Shareholders: False/misleading info, loss of stock value, dividend cancellation.
- Employees: Loss of employment, insufficient severance/pension funds.
- Customers: Poor service quality.
- Suppliers/Vendor Partners: Delayed/unpaid payments, especially during bankruptcy.
- Federal Government: Loss of tax revenue, non-compliance.
- Creditors: Loss of principal/interest, failure to repay.
- Community: Unemployment, economic decline.
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Description
Test your knowledge on the concept of stakeholders and their classifications. This quiz covers primary and secondary stakeholders, their interests, and the differences between stockholders and other stakeholders. Perfect for business students or professionals looking to refresh their understanding.
