Business organisation and environment

Table of Contents

1. Topic pack - introduction
2. 1.1 Nature of business activity - notes
3. 1.1 Nature of business activity - questions
4. 1.2 Types of organisation - notes
5. 1.2 Types of organisation - questions
6. 1.3 Organisational objectives - notes
7. 1.3 Organisational objectives - questions
8. 1.4 Stakeholders - notes
   1. Stakeholders
   2. Types of stakeholders
   3. Stakeholder conflict
9. 1.4 Stakeholders - questions
10. 1.5 External environment - notes
11. 1.5 External environment - questions
12. 1.5 External environment - simulations and activities
13. 1.6 Organisational planning tools - notes
14. 1.6 Growth and evolution - notes
15. 1.7 Growth and evolution - questions
16. 1.7 Growth and evolution - simulations and activities
17. 1.6 Change (HL only) - notes
18. 1.9 Globalisation - notes
19. 1.9 Globalisation - questions
20. Print View

1.4 Stakeholders - notes

So far we have examined the nature of business activity and types of organisations and their objectives. In the next section we examine stakeholders. The concept of stakeholders is fairly recent in the business lexicon. It was introduced to highlight the fact that businesses are not just involved in production of goods or the delivery or resources, but have a range of responsibilities to different groups who have an interest in their activities. These stakeholder groups have varying requirements from the firm, and the firm has different responsibilities to each of the groups. The result may be conflict.

By the end of this section you should be able to:

• Explain the interests of internal and external stakeholders and possible areas of conflict between them

• Evaluate possible ways to overcome stakeholder conflict