GENERAL KNOWLEDGE

Detailed explanation-1: -Different stakeholder groups will be affected in different ways by these changes in business objectives – owners may earn less dividends in the short-term, managers may need to learn new skills, employees’ jobs might be lost and customers may have less choices of goods and services.

Detailed explanation-2: -What is Stakeholder Impact? Stakeholder impact refers to the effects an organization’s actions, decisions, or policies have on its stakeholders. It’s a way of evaluating the impact of an organization’s activities on the people, groups, and organizations that are affected by its operations.

Detailed explanation-3: -The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers.

Detailed explanation-4: -It is often very difficult for businesses to achieve aims and objectives that make all stakeholders happy. Ways in which stakeholders are affected by business aims and objectives include financial, employment, operational, social, products and services.