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level: Stakeholder Interests and Conflicts

Questions and Answers List

level questions: Stakeholder Interests and Conflicts

QuestionAnswer
What do owners want?- Make a profit for shareholders and themself - The business reputation to be positive - For the business to act in a socially responsible manner
What do managers want?- Wants business to perform well financially - Will want the business to conduct itself in a socially responsible manner (lead to increase sales) - Want to satisfy as many stakeholder expectations as possible while ensuring their position in the business is secure.
What do employees want?-Expect to be paid fairly, treated fairly and have fair working conditions - Want job security
What do customers want?- Want the business to act in a socially responsible manner - Want good quality goods or services at a fair price - Want good quality service from the business.
What do suppliers want?- Expected to be paid fairly and in full in return for quality goods being delivered reliably. - Want to maintain a good relationship with businesses to ensure secure customers.
What do the general community want?- Expect that a business will give back to society, something of what they take out of their own profit - Expect businesses to show concern for the environment - Expect businesses to show concern for their future through their own employment within the business
Potential Conflicts between stakeholders- Employees and Owners (desire for fair wages and profit will clash, desire for safe working conditions will also create expenses for the business) - Management and Customers ( in order to satisfy shareholders, prices may increase which will conflict with desire for reasonable prices) - Management and general community (GC's desire to be environmentally and socially aware will conflict with manager satisfying shareholder expectations of less expenses.) - Suppliers and GC ( suppliers may reduce costs by using unethical or socially irresponsible practices which can upset GC) - Management and Suppliers - ( Managers may want to reduce supplier costs however suppliers need higher prices to cover costs of ethical materials)