1.

Any individual or
organization affected by
the activities and
performance of a business
is known as a stakeholder.

2. Stakeholders can be both internal and external to

a business.

3. Stakeholder mapping is a tool that involves

organizing stakeholders in a matrix based on
their degree of ownership and level of interest in
the business.

4. Trainee managers are an external stakeholder

group of a business.

5. The local community is an example of an

external stakeholder group for a business.

6. A government's main concerns in business

affairs are tax revenues, employment
opportunities, and economic growth.

7. When managing stakeholders’ interests,

successful businesses strive to ensure the
interests of most stakeholders are satisfied most
of the time.

8. Most customers of a business would be highly

concerned with how much profit a business
earns.

9. When managing stakeholder interests, it tends to

be more complicated for larger businesses than
smaller ones.

10. The main concern of pressure groups is how an

organization’s business activities will impact the
cause that they support.

11. According to stakeholder mapping, stakeholders

with a high level of interest and high degree of
power are the most important to the business.
12. Suppliers are not stakeholders because they
have no direct interest in how a business
performs.

13. Stakeholders are not necessarily the owners of a

business.

14. The main concern or interest of shareholders of a

business is profit as this will impact the amount of
dividend payments and the value of the
company's shares.

15. Managers are people hired to be responsible for

overseeing certain functions, operations, or
departments within an organization.

16. Directors are the senior executives who are

legally responsible for the overall running of a
company on behalf of their shareholders (the
legal co-owners of the company).

17. A competitor is interested in what rivals are doing

as it may impact on their sales revenue and
profits.

18. The local community’s main concern as a

stakeholder group is how a business’s operations
will impact on their lifestyle, such as employment
and environment.

19. A labour union exists to protect the interests of its

worker members, such as workers’ pay and
conditions of employment.

20. Stakeholder conflict refers to the mutually

exclusive and incompatible interests of different
stakeholder groups of a business organization.