Unit 1.4 - Stakeholders
What you need to know and understand:
- Internal and external stakeholders
- Conflict between stakeholders
Conceptual Understandings:
- Change is essential for businesses to achieve their desired aims
- Creative business planning can lead to organizational success
- Ethical business behavior improves a business’ image as well as customer loyalty
- Sustainable business practices can enhance a business’ existence
Questions to consider:
- How do assumptions about what a business is and how a business works vary by industry and location, and what implications does this have for business actors?
- How can we evaluate the benefits and drawbacks of globalization, given the multitude of stakeholders it influences?