Learning objective

Understanding the roles of different stakeholder groups in business activities is essential. This includes identifying key internal and external stakeholders, their varying objectives, and potential conflicts between these objectives, supported by examples.

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Cambridge IGCSE Business StudiesUnderstanding business activity

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Understanding the roles of different stakeholder groups in business activities is essential. This includes identifying key internal and external stakeholders, their varying objectives, and potential conflicts between these objectives, supported by examples

This point belongs to Business objectives and stakeholder objectives, especially Business objectives and stakeholder objectives outcomes.
You need to be able to understanding the roles of different stakeholder groups in business activities is essential. This includes identifying key internal and external stakeholders, their varying objectives, and potential conflicts between these objectives, supported by examples.
The key ideas to know are Identify, Explain, and Consider.
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IdentifyExplainConsider

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Paper 1 structured question: Business objectives and stakeholder objectives

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Description

Stakeholder Expectations

The company has internal stakeholders (employees) who want better working conditions and external stakeholders (shareholders) who want higher profits.

a
State two internal stakeholders of a business.
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Aim for approximately 1 distinct marking point.
[1]

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Related learning objectives

Businesses can pursue various objectives, and their significance may vary over time. Key points include the necessity of business objectives, their importance, examples of different objectives such as survival, growth, profit, and market share, as well as the goals of social enterprises.
Business objectives and stakeholder objectives outcomes
There are notable differences between the objectives of private sector and public sector organizations, which can influence their operations and strategies.
Business objectives and stakeholder objectives outcomes

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