4 Questions
Which aspect is important for a stakeholder to consider in a commercial organisation?
Ensuring ethical business practices
What is the role of a stakeholder in a commercial organisation?
To have a vested interest in the success of the organization
What is a potential risk related to stakeholders in a commercial organisation?
Decreased accountability within the organization
How do stakeholders in a commercial organisation typically influence decision-making?
By providing guidance and advice to management
Study Notes
Stakeholders in Commercial Organisations
- Stakeholders' expectations and needs are important aspects for a commercial organisation to consider, as they can impact the organisation's reputation and success.
- The role of a stakeholder in a commercial organisation is to contribute to the organisation's success or be affected by its actions, and can include investors, customers, employees, suppliers, and the wider community.
Stakeholder Risks and Influence
- A potential risk related to stakeholders in a commercial organisation is that their expectations and needs may not be met, leading to negative consequences such as loss of business or damage to reputation.
- Stakeholders in a commercial organisation typically influence decision-making through active engagement, such as providing feedback, participating in consultations, or holding positions on the board of directors.
Learn about the role and influence of stakeholders in commercial organisations, as well as the important aspects and potential risks they need to consider. Explore how stakeholders typically influence decision-making in this context.
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