Download - This lesson we will be learning about 1.5 – Stakeholders and Conflicts What is a stakeholder?
This lesson we will be learning about
1.5 – Stakeholders and Conflicts
What is a stakeholder?
NO IDEAI NEED HELP
NEVER HEARD OF IT
OKI CAN DO THIS WITH SUPPORT
SOME GUIDANCE NEEDEDNEARLY AT MY TARGET
GOT IT!VERY CONFIDENT
WILL HIT MY TARGET GRADE
EXCEED TARGET
Success Criteria< C •Provide a definition of the term ‘stakeholder’ (define)
•Recognise and identify the key stakeholders in a given business context•Describe how each stakeholder is affected
C > Even better if you can (Target grade C or above)•Explain the basic rights and responsibilities of different stakeholders
B > •Analyse each stakeholders needs and wants
A > QOWC and SPAG
LEARNING OBJECTIVESInvestigate the stakeholders a business has and how different business decisions affect them
Starter
Which individuals or groups are interested in or are affected by the activities of the business?
McDonalds
Starter – IdeasStakeholders
Governmente.g. HMRC
Banks/Investors
Shareholders
Employees
SuppliersCustomers
Local Community
Managers
Owners
Stakeholder
An individual or a group which has an interest in and is affected by the activities of a business; stakeholders have an interest in how the business operates and whether or not it is successful.
• ALL students must supplement their definition with 3 examples of a stakeholder
• Even better if you can identify two which might conflict
As a customer of McDonaldsYou are interested in....
Can you justify your answers?
S:\Hunter, Mrs\Year 9 GCSE (EdExcel)\1.5 Economic\Stakeholders (McDonalds).doc
Task 1 (15 minutes)
ALL- stakeholders identified with their interests described Even better if you can do this in detail for all stakeholders
ALL - For each stakeholder describe at least 2 interestse.g. Customers – They will want a good reliable, quality
product at a fair price. McDonalds customers for example want a clean restaurant with burgers that are made from 100% beef. They want food that is warm and served quickly.
Best of all if you can analyse the interests
STAKEHOLDERS
Customers Good prices; Good quality; good company image
Employees Good employer; non-polluting; good company image, job security
Local CommunityReduced pollution, noise and litter (low)
Management Power; prospects; pay; perks; good company image
Shareholders Return on investment; good dividends; good company image; long-term growth
Government Pays taxes; meets legal requirements; provided employment
Suppliers Good prices; stable demand; prompt payers; long-term growth
IDEAS
Customers Good prices; Good quality; good company image
Employees Good employer; non-polluting; good company image, job security
Local CommunityReduced pollution, noise and litter (low)
Management Power; prospects; pay; perks; good company image
Shareholders Return on investment; good dividends; good company image; long-term growth
Government Pays taxes; meets legal requirements; provided employment
Suppliers Good prices; stable demand; prompt payers; long-term growth
Inland revenue collects taxes on behalf of the government. Interested in the business’s profit and loss account. The amount of tax that a business pays to the inland revenue depends upon the level of that business’s net profits.
Banks will be interested in a business’s accounts because they may have lent money and will want to see whether the
business is able to pay it back. A bank may be especially interested in how much profit the business has made over the
year.
Employees will want to see how much profit the business has made. If the business has made high levels of profits
employees may be looking for an increase in wages. Also, high profits may mean that employees’ jobs are
more secure.
Suppliers will be interested in whether the business can pay for its supplies on time. The business’s balance sheet will give suppliers this information.
Customers want to know if a business is financially sound. They will not want to place orders or pay deposits
to a business that might not be able to continue trading.
ExerciseIdentify if the stakeholder is an internal or external stakeholder (list below)Key Internal – IExternal- E
1. Employees2. Managers3. Local community4. Government5. Customers6. Suppliers7. Shareholders
Exercise - Answers
1. Employees – I2. Managers- I3. Local community - E4. Government - E5. Customers - E6. Suppliers – E7. Shareholders- I
Question
Describe two stakeholders which may conflict and why
Stakeholder Conflicts
• Each stakeholder has a different interest• Some decisions made by businesses benefit
certain stakeholders and don't benefit other stakeholders
Alternative Exercise
Case studies from the Edexcel book• 4 Examples P133 ‘Conflicting Objectives’• In your books explain where the conflict arises• Which stakeholder/s does it benefit? How?• Which stakeholder/s does it affect negatively?
How?ALL: 1-3 SOME: 1-4Write in full sentences
Over to youResource – Textbook P135Q2 and 3 only
• Q2- 6 marks• Q3- 6 marks
Even better if you can tell me who else might be affected in Q2? Internal or external stakeholder? Why? How? Is it a positive effect? Negative?
Plenary
STAKEHOLDERTry thinking of a topic from unit 1 which relates
to each letter
E.g. S = Stakeholder (you can’t use this one!)
Mini Plenary Refer back to the objectivesWhat is a stakeholder? Name 3 stakeholdersDescribe the needs of staff at Sports Direct
CONFIDENCE CHART – WHERE ARE YOU?
1 2 3 4 5 6 7 8
Test Yourself P135 Q1-3
Case Study – Quemby CaseALL - How will the local community be affected by this business? 5 marks Extension QuestionSOME - Discuss the benefits and drawbacks to customers of this service6 marks
WILF ALL students will be able to •Provide a definition of the term ‘stakeholder’ (define)•Recognise and identify the key stakeholders in a given business context•Describe how each stakeholder is affected Even better if you can (Target grade C or above)•Explain the basic rights and responsibilities of different stakeholders
Best of all if you can (Target grade B or above)•Analyse each stakeholders needs and wantsCONFIDENCE CHART – WHERE ARE YOU?
1 2 3 4 5 6 7 8
Draw your hand in the back of your books and write down 4 stakeholders that are affected by school and one target on how to improve in your learning