Stakeholder Influence and Impact

Define what is meant by a stakeholder and identify the main stakeholders of a business, including owners, employees, customers, the local community, and suppliers.
Describe the distinct objectives of different stakeholder groups, such as maximising pay for workers, minimising environmental impact for the local community, and securing high dividend payments for owners.
Analyse the impact of business activity on stakeholders and evaluate the influence that stakeholders can exert on businesses and their operational objectives.
Assess how businesses may face and manage conflicts of interest arising between different stakeholder groups.

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