Leaving Cert Business - Key Stakeholders in Business

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Across
  1. 4. They purchase goods or services from the business,
  2. 5. They are the people that function near the business day-by-day
  3. 7. provide funding to a business in return for a share of ownership (called equity) hoping to earn profits
  4. 8. They provide the raw materials, products, or services that a business needs in order to produce and deliver its own goods or services
  5. 9. Work for the business, and use their skills to help the business function day-by-day
  6. 10. Sets objectives and distributes resources to achieve the entrepreneurs goals
  7. 14. Example: A local community group concerned about a new building project meets with a property developer, supported by a neutral mediator to ensure both sides feel heard
  8. 16. Make ethical decisions that balance profit with societal good e.g. avoid unfair price hikes that exploit loyal customers
  9. 18. Starts a business
Down
  1. 1. Include _____________ in key decisions e.g. builders should consult local communities before starting major projects
  2. 2. Makes sure the businesses are not breaking the law, and supplies grants to support business success
  3. 3. Relationship where both stakeholders mutually benefit
  4. 6. Keep honest, regular contact with stakeholders to understand concerns and avoid conflict e.g. fairly handling customer complaint
  5. 11. Example: An employee clams they were unfairly dismissed, while the employer insists proper procedures were followed. An independent arbritrator listens to both sides and reviews the evidence before recommending a resolution – for example, reinstatement, compensation, or upholding the dismissal. Both parties agree beforehand to accept the outcome
  6. 12. Example: A supplier and a manager might need to discuss delayed payments and agree on a realistic timeline for future invoices to avoid damaging the relationship
  7. 13. Relationship where stakeholders compete
  8. 15. Example: An investor wants higher dividends, while the manager wants to reinvest profits and they can’t find a solution. A third party listens to both, may suggest a phased dividend increase to try to help them reach an agreement themselves to end the dispute
  9. 17. They represent the common viewpoint, objectives and goals of a particular groups of stakeholders, and are also known as pressure groups or lobby groups