Topic study hub
Stakeholders
Study stakeholder groups and how their objectives can influence, support or conflict with business decisions.
4
Objectives
8
Flashcards
8
Questions
72 min
Study time
AqaGcseBusinessBusiness in the real world
Choose a revision tool
Start revising Stakeholders
Syllabus checklist
What you need to know
4 objective pages available
Stakeholder groups and objectives2 objectives
- Define stakeholder and identify main business stakeholders including owners, employees, customers, local community and suppliers.
- Explain stakeholder objectives, including worker pay, environmental impact on the local community and owner dividend payments.
Stakeholder impact, influence and conflict2 objectives
- Explain the impact and influence stakeholders can have on businesses and business objectives.
- Explain how businesses may face conflict between stakeholder objectives.
Key terms
StakeholderOwner dividendBusiness objectiveStakeholder conflict
Exam tips
- Remember stakeholder categories: When answering questions, first list the five main stakeholder groups before describing their objectives.
- Prioritising stakeholder objectives: Create a stakeholder matrix to rank objectives by importance and feasibility before proposing solutions.
Common mistakes
- Mislabeling stakeholders: Internal stakeholders are those within the business, such as employees and owners; external stakeholders are outside, such as customers, suppliers, and the local community.
- Assuming all stakeholders want the same outcome: Workers seek higher pay, owners seek dividends, and the community seeks environmental protection and local economic benefits. Each group’s objective must be identified separately.
Practice preview
Continue by objective
Objectives are grouped by subtopic so students can jump straight to the exact skill they want to revise.
Related topics