Key Concepts & Exam Review
Purpose of Business Organisation - correct answers -* To the Entrepreneur it is the profit he makes from
his business
* To the consumer it is the value of the service or product
* To employees it is their salary/wage earned
* To an organization it can be selling shares to shareholders
Stakeholders - correct answers -Any person or group of people that have (or claim to have) an interest
in an organization and its activities.
Stakeholder Expectations - correct answers -* Customers - quality products and good service
* Suppliers - payment on time
* Community - contribution in form of sponsorships or community projects
* Organized labor - treat employees with fairness, dignity and respect
Internal Stakeholders - correct answers -Work directly within the organisation - business owners,
shareholders, investors, employees and management
External Stakeholders - correct answers -Not directly associated with the organization - community,
government, organized labor (trade unions), customers, suppliers.
Triple Bottom Line (Expected from Organizations) - correct answers -* Be profitable
* Take responsibility for the physical environment
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