Stakeholders and their differing objectives

Stakeholders are people involved in business activity, and who have an interest in the success of the business. They include:

· Owners: They invest their own money into a business. They have a say in the decision-making in the business, and a share of the profits
· Managers: These are people who are employed by the owners to monitor the daily running of the business. They put the owners’ decisions into practice. In large businesses, managers may be experts in specific areas such as marketing or finance.
· Employees: They are paid to work for the business, doing a specific job. The employees’ stake is the money in the form of the pay they receive, which they can spend on goods and services.
· Consumers: They buy the goods and services produced. If businesses provide substandard service or goods, they can go into financial trouble.
· Government: They want businesses to be successful to provide wealth for the country. Businesses are influenced by the laws the government enforce.
· Community: Businesses are important to communities because they provide employment. However, they can damage a community’s environment by creating pollution