start up information about business stakeholders + relationships

A Business is an enterprise that is set up to provide a good or service to potential customers. There are two categories of business; commercial: profit driven, aim to make a profit, e.g. Apple, and non-commercial: not for profit organisations that do not have profi t as their aim e.g. GAA, Credit Union and GOAL . People in Business Stakeholders 1. Entrepreneur: person that shows the initiative to generate an idea and take commercial (reputation) and often financial risk (investing their own money with no guarantee of a return) in setting up a business with the hope of making a profit. Well known entrepreneurs include Mark Zuckerberg, Jeff Bezos and Steve Jobs. 2. Investors : provide financial support to entrepreneurs in the form of bank loans, grants from state agencies or private investors. The return to an investor is interest. Examples of investors include AIB, Bank of Ireland and the Irish government. 3. Consumers: purchase goods and services provided by entrepreneurs. They seek to obtain a variety while receivi ng high quality at the lowest possible price 4. Producers/suppliers: producers manufacture goods for the market e.g. Apple while suppliers sell finished or partly finished goods to a business . 5. Employers: employ staff to perform different tasks. They have certain responsibilities to their employees i.e. to provide safe working conditions, to pay a fair days pay, to provide a contract of employment and to treat all employees fairly and without discrimination , e.g. the Irish government is the single biggest employer in the state employing over 300,000 public servants, Intel employs 4500 people in its plant in Leixlip, county Kildare. 6. Employees : work for employers and carry out the tasks asked of them in retur n for an agreed wage/salary. They have rights as well as responsibilities to their employers. 7. Service Providers: these are firms that do not produce goods but rather offer services required by entrepreneurs for an agreed price e.g. solicitors, accountants (PwC, EY) wholesalers (Musgraves) and market research companies. 8. Interest Groups: are not elected organisations that aim to influence decisions made by institutions such as the government, the EU and IBEC. An interest group is an organisation which repres ents the common viewpoint, objectives and goals of a particular group. They achieve this through 1. Lobbying politicians 2. Using Public Relations Firms and 3. Organising demonstrations and strikes to highlight their concerns over the impact of decisions m ade. Examples of interest groups include IFA, ICTU, IBEC and the INMO. Irish Farmers Association. The IFA is Ireland’s largest farming representative organisation with over 72,000 members in its 947 branches. It campaigns for the interests of Irish farmers in all sectors. It represents Irish farmers at home and in Europe, lobbying and campaigning for improved conditions and incomes for farm families. The IFA also provides representation, support and advice to members on an individual basis. IFA is a democratic association, organised in branches, County Executive and National Committees.