Shareholders

Managers

Society

Customers

Employees

Shareholders are the owners of the business. As such the main responsibility of the business is to maximise the return on the shareholders investment. Business should also produce an annual report and provide information in regard to the business performance. Managers must give and honest and accurate account of their management of the businesss resources. In return the business has to support the actions of its management. The social responsibility to the local community is to be good corporate citizens. Society expects businesses to give back to the community something of what they take out generating profits. The business should be operated in an honest, ethical manner. They should ensure that they are producing quality, safe products, and sell them at a reasonable price. Business should also provide its customers service during and after sales. Employees need a safe and psychologically rewarding work environment. Employees should also receive fair pay and their work should be acknowledged and respected. In addition to that, they should also be given access to training and development. Business should consider impact of doing certain task on the environment. They adopt ecological sustainability practice

Environment

Market concentration
Monopoly Oligopoly Monopolistic competition

Brief explanatory
the complete concentration by one firm in the industry. consists of a small number of larger firms which dominate the market. the most common type of market. There is a large number of buyers and sellers, the goods and services are differentiated by packaging, quality, brand names, etc. where there is a large market of small businesses which sell products that are the same or similar.

Common example
Cityrail Banks

Local retailing

Perfect competition

Fruit growers