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Business Stakeholders

A business touches the lives of many people, and they touch it back. Meet the stakeholders, learn what each one wants, and see how they and the business shape each other.

⏱️ 16 min 🎯 14 activities Teachers Not yet rated Students Not yet rated

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What you'll cover

Everyone with a stake 🤝

A business does not exist on its own. Its owners, workers, customers, suppliers and neighbours all have an interest in it, and it affects them too. These groups are its **stakeholders**. This module is about who the stakeholders are and how they and the business shape each other.

Words to know 🔑

Four ideas run through this topic:

What is a stakeholder? 🎯

What is a stakeholder?

  • Any group with an interest in, or affected by, a business
  • Only the person who owns the business
  • A wooden post used in fencing
  • The cash in the till

Inside and outside ⚖️

Some stakeholders are part of the business; others are outside it.

What they want 🔗

  • Shareholders
  • Employees
  • Customers
  • The local community
  • Profit and a return on their investment
  • Fair pay and secure jobs
  • Good quality at a fair price
  • Local jobs and a clean environment

It works both ways 💬

A stakeholder is both affected by the business and able to influence it. Employees rely on it for their wages, but they also affect the quality of the work and could go on strike. Always explain both directions: how a group is affected, and how it can affect the business.

Who has a stake? ✅

Which THREE of these are stakeholders of a local bakery?

  • The people who work there
  • The flour supplier
  • The local community
  • The weather next week
  • A shop on the other side of the world with no link

How they push back 🔀

  • Employees
  • Customers
  • A pressure group
  • The government
  • Can affect quality or go on strike
  • Can choose to buy or shop elsewhere
  • Can run a campaign against the business
  • Can pass laws and set taxes

Handling a decision 🪜

An interactive activity.

Complete the idea 🧩

A _____ is any group with an interest in a business. The owners want profit, while employees want fair _____. A business both affects its stakeholders and is _____ by them. The _____ community wants local jobs. When groups want different things, there is a _____.

stakeholder pay influenced local conflict customer profit ignored national agreement

True or not? 🖍️

An interactive activity.

Spot the conflict 🔎

Which of these is an example of a conflict between stakeholder groups?

  • Shareholders want higher profit while employees want higher pay
  • Everyone agreeing to the same plan
  • Customers enjoying a good product
  • A shop opening on time each morning

The factory plan 🧭

An interactive activity.

Explain it ✍️

An interactive activity.