Business Studies
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  • Edexcel GCSE
    • Theme 1: Investigating small business >
      • Topic 1.1 Enterprise and entrepreneurship >
        • 1.1.1 The dynamic nature of business
        • 1.1.2 Risk and reward
        • 1.1.3 The role of business enterprise
      • Topic 1.2 Spotting a business opportunity >
        • 1.2.1 Customer needs
        • 1.2.2 Market research
        • 1.2.3 Market segmentation
        • 1.2.4 The competitive environment
      • Topic 1.3 Putting a business idea into practice >
        • 1.3.1 Business aims and objectives
        • 1.3.2 Business revenues, costs and profits
        • 1.3.3 Cash and cash-flow
        • 1.3.4 Sources of business finance
      • Topic 1.4 Making the business effective >
        • 1.4.1 The options for start-up and small businesses
        • 1.4.2 Business location
        • 1.4.3 The marketing mix
        • 1.4.4 Business plans
      • Topic 1.5 Understanding external influences on business >
        • 1.5.1 Business stakeholders
        • 1.5.2 Technology and business
        • 1.5.3 Legislation and business
        • 1.5.4 The economy and business
        • 1.5.5 External influences
    • Theme 2: Growing the business >
      • Topic 2.1 Growing the business >
        • 2.1.1 Business growth
        • 2.1.2 Changes in business aims and objectives
        • 2.1.3 Business and globalisation
        • 2.1.4 Ethics, the environment and business
      • Topic 2.2 Making marketing decisions >
        • 2.2.1 Product
        • 2.2.2 Price
        • 2.2.3 Promotion
        • 2.2.4 Place
        • 2.2.5 Using the marketing mix to make business decisions
      • Topic 2.3 Making operational decisions >
        • 2.3.1 Business operations
        • 2.3.2 Working with suppliers
        • 2.3.3 Managing quality
        • 2.3.4 The sales process
      • Topic 2.4 Making financial decisions >
        • 2.4.1 Business calculations
        • 2.4.2 Understanding business performance
      • Topic 2.5 Making human resource decisions >
        • 2.5.1 Organisational structures
        • 2.5.2 Effective recruitment
        • 2.5.3 Effective training and development
        • 2.5.4 Motivation
    • Revision >
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  • AS Business Studies
    • Theme 1 >
      • 1.4 Managing people >
        • 1.4.1 Approaches to staffing
        • 1.4.2 Recruitment, selection and training
        • 1.4.3 Organisational design
        • 1.4.4 Motivation in theory and practice
        • 1.4.5 Leadership
      • 1.5 Entrepreneurs and leaders
    • Theme 2 >
      • 2.4 Resource management >
        • 2.4.1 Production, productivity and efficiency
        • 2.4.2 Capacity utilisation
        • 2.4.3 Stock control
        • 2.4.4 Quality management
      • 2.5 External Influences >
        • 2.5.1 Economic influences
        • 2.5.2 Legislation
        • 2.5.3 The competitive environment
  • A level Business Studies
    • Theme 3: Decisions and Strategy >
      • 3.1 Business objectives and strategy >
        • 3.1.1 - Objectives & Strategy
        • 3.1.2 - Theories of Corporate Stratergy
        • 3.1.3 - SWOT analysis
        • 3.1.4 - Impact of external influences
      • 3.2 Business growth >
        • 3.2.1 - Growth
        • 3.2.2 - Mergers & Takeovers
        • 3.2.3 - Organic Growth
        • 3.2.4 - Reasons for staying small
      • 3.3 Decision-making techniques >
        • 3.3.1 - Sales forecasting
        • 3.3.2 - Investment appraisal
        • 3.3.3 - Decision trees
        • 3.3.4 - Critical path analysis
      • 3.4 Influences on business decisions >
        • 3.4.1 Corporate influences
        • 3.4.2 Corporate culture
        • 3.4.3 Shareholders versus
        • 3.4.4 Business ethics
      • 3.5 Assessing competitiveness >
        • 3.5.1 Interpretation of financial statements
        • 3.5.2 Ratio analysis
        • 3.5.3 Human resources
      • 3.6 Managing change >
        • 3.6.1 Causes and effects
        • 3.6.2 Managing Change
        • 3.6.3 Scenario planning
    • Theme 4: Global business >
      • 4.1 Globalisation >
        • 4.1.1 Growing economies
        • 4.1.2 International trade and business growth
        • 4.1.3 Factors contributing to increased globalisation
        • 4.1.4 Protectionism
        • 4.1.5 Trading blocs
      • 4.2 Global markets and business expansion >
        • 4.2.1 Conditions that prompt trade
        • 4.2.2 Assessment of a country as a market
        • 4.2.3 Assessment of a country as a production location
        • 4.2.4 Reasons for global mergers or joint ventures
        • 4.2.5 Global competitiveness
      • 4.3 Global marketing >
        • 4.3.1 Marketing
        • 4.3.2 Niche markets
        • 4.3.3 Cultural/social factors
      • 4.4 Global industries and companies >
        • 4.4.1 The impact of MNCs
        • 4.4.2 Ethics
        • 4.4.3 Controlling MNCs
    • Pre-release >
      • 2017 Fitness Industry
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      • 13R
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  • Btec KS5
    • Level 3 >
      • Unit 3: Personal & Business Finance >
        • A: Personal Finance >
          • A1 Functions & role of money
          • A2 Different ways to pay
          • A3 Current accounts
          • A4 Managing personal finance
        • B: Explore the personal finance sector >
          • B1 Features of financial institutions
          • B2 Communicating with customers
          • B3 Consumer protection for personal finance
          • B4 Information guidance & advice
        • C: Understanding the purpose of accounting >
          • C1 Purpose of accounting
          • C2 Types of income
          • C3 Types of expendicture
        • D: Sources of finance >
          • D1 Internal
          • D2 External
        • E: Break-even & Cash flow >
          • E1 Cash flow forecasts
          • E2: Costs & Break-even
        • F: Statement of accounts >
          • F1 Statement of comprehensive income
          • F2 Statement of financial position
          • F3 Measuring porfitability
          • F4 Measuring liquidity
          • F5 Measuring efficiency
          • F6 Limitations of ratios
      • Unit 6: Principals of management >
        • A Functions of management >
          • A1 Definitions management & Leadership
          • A2 Functions of management & leadership
          • A3 Business Culture
        • B Management & Leadership: Styles & Skills >
          • B1 & B2 Management & Leaderships styles
        • C Managing Human Resources >
          • C1 Human Resources
          • C2 Human Resource Planning
        • D Factors influencing management, motivation and performance of the workforce >
          • D1 Motivation in the workplace
          • D2 Techniques to meet skills requirements
          • D3 Training and development
          • D4 Performance appraisal
        • E Impact of change >
          • E1 Managing change
        • F Quality management >
          • F1 Quality standards
          • F2 Developing a quality culture
          • F3 The techniques and tools of quality management
          • F4 The importance and benefits of quality management
      • Unit 7: Business Decission Making >
        • A: Business plans >
          • A1 Business ideas
          • A2 Purpose and structure of the business
        • B: Decision making in business >
          • B1 Sources for data collection
          • B2 The use of business models to aid decision making
          • B3 Techniques to analyse data effectively for business purposes
          • B4 Appropriate formats for decision making in a business context
          • B5 Software-generated information for decision making in an organisation
        • C: Use of research to justify the marketing >
          • C1 Types of research
          • C2 Competitor analysis
          • C3 Trends
          • C4 Marketing plan
        • D: Efficient operational management of the business >
          • D1 Legislation
          • D2 Quality issues
        • E: Understand the importance of managing resources >
          • E1 Human resources
          • E2 Physical resources
          • E3 Financial resources
        • F: Creation and interpretation of financial forecasts >
          • F1 Creation and analysis of a sales forecast
          • F2 Create and interpret a cash flow forecast
          • F3 Creation and interpretation of a break-even chart
          • F4 Creation and interpretation of an income statement
          • F5 Creation and interpretation of a statement of financial position
        • G: Viability of a business >
          • G1 Ratio analysis
          • G2 Threats and ‘what if’ scenarios
          • G3 Contingency plan
        • H: Demonstrate business skills/IT skills >
          • H1 Business skills
          • H2 Use IT skills to create appropriate documentation
  • KS4 Btec Enterprise
    • Component 1: Exploring Enterprises >
      • Learning Aim A >
        • P1: Purpose, Activities & Aims
        • P2: Entrepreneurial Characteristic & Skills
      • Learning Aim B
      • Learning Aim C >
        • P4 Internal Factors
        • P5 External Factors
    • Component 2: Planning for & pitching an Enterprise Activity >
      • Learning aim A >
        • P1: Potential Ideas
        • P2: A plan
      • Learning aim B
      • Learning aim C
    • Component 3
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1.5.1 Business stakeholders

Who business stakeholders are and their different objectives:
● shareholders (owners), employees, customers, managers, suppliers, local community, pressure groups, the government.

​Stakeholders and businesses:
● how stakeholders are affected by business activity
● how stakeholders impact business activity
● possible conflicts between stakeholder groups.

Stakeholder Theory

Watch the following videos and read the notes on BBC bitesize.
​Complete the table below the videos and the MCQ on BBC bitesize. 
​Tutor2u quiz
Stakeholder Conflicts
Example exam question:
Assess the impact of Stakeholder at Sports Direct. (6 marks)
(Hint: you can look at how the behavior has both positives & negative effects)
​Sports Direct founder questioned over exploitation allegations

Class Notes

Complete a table which identifies  how stakeholders are affected by business activity & how stakeholders impact business activity.

Stakeholder                                                How they're affected                                                                                       How they can impact the business

shareholders (owners),                     Profits - impact financial rewards (drawings/dividends)                                              Strategic direction / Financial support

employees,                            Wages, working conditions, pension, nature of the work, holiday, contract                   Customer service, productivity, absenteeism, leave 

customers,

managers,

suppliers,

local community,

pressure groups,

the government.
Extension Activity:
Who are Shenfield's stakeholders and why are each important to keep happy?
Why might it be hard to satisfy all stakeholders at once however? 

Try to rank the stakeholders of a business in priority of who is most important. You'll need to explain why you have placed them where you have. 
The following examples may help you to consider how they are affected by a business and how they can influence the business.


Stakeholder Conflict 

Which stakeholders do you think might have objectives which lead to conflict?

Why would a start up business risk higher levels of stakeholder conflict? 

How might the objective of the business influence stakeholder conflict? 

Why is it important to resolve them?

​How can an owner resolve stakeholder conflict? 

Is it possible to keep all stakeholders happy?

What would it depend upon?
Doughty Centre 50 Lessons on Corporate Responsibility and Sustainability - Jamie Mitchell​
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