IB Business and Management Business Organisation and Environment 1.4 S

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IB Business and Management Business Organisation and Environment 1.4 Stakeholders

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IB Business and Management .com IB Business and Management T he IB Diploma Business and Management course delivered IN STYLE , ONLINE . ©

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z stakeholders 1.4

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Stakeholders Any person or organization that has a direct interest in & is affected by the performance of a business z

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z Internal & external stakeholders employees Internal stakeholders shareholders Managers & directors suppliers External stakeholders Govt. customers competitors Special interest groups Question 1.4.1: p. 61 ‘Examine’: You must use the case study material in your answers - Consider an argument or concept in a way that uncovers the assumptions and interrelationships of the issue Question 1.4.2: p. 64 You must use the case study material in your answers - ‘explain’: describe, giving reasons

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z Stakeholders vs. shareholders People or groups of people who can be affected by, & therefore have an interest in, any action by an organisation Just another group (owners of a co.) that fit the definition shareholders employees Local community customers suppliers managers competitors

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Different stakeholder groups have various interests in an organization z Stakeholder conflict A pension fund with a large shareholding may be concerned with the long-term growth & value of a company A ceo may be concerned with maximizing quarterly profits, as this is how her job is evaluated Short-term vs. long-term conflict between the two stakeholders Govt. politician owns shares in a construction firm Firm is would like to see large govt. construction projects given to it Conflict of interest arising in the same stakeholder Stakeholder conflict is a short-term but always present issue. E.g. meeting both the demands of workers & management can lead to a highly motivated &productive workforce with low rates of absenteeism & staff turnover. This can in turn lead to improved customer relations, corporate image, market share & profits. Shareholders =  Favourite exam questions The difference between internal & external stakeholders The difference between stakeholders & shareholders The different aims of stakeholder groups & how they conflict with each other Question 1.4.3: p. 68 ‘ to what extent ’: Evaluate the success or otherwise of an argument or concept. Opinions and conclusions should be presented clearly and supported with empirical evidence and sound argument .

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Resolving stakeholder conflict z HL Conflict resolution Relative bargaining power Balancing act or ‘best fit’ compromise Disruptions & problems can be expensive Stakeholder mapping Level of power low high Level of interest low high a b d c Question 1.4.4: p. 69 Using stakeholder mapping & identifying in which quadrant key stakeholders lie may be beneficial in answering the last part of this question

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