2026 FULL SOLUTION PRACTICE TESTED
◉ state 2 stakeholder needs of customers. Answer: value for money
and after sales service
◉ state 2 stakeholder needs of local community. Answer: job
creation and less pollution
◉ state 2 stakeholder needs of suppliers. Answer: regular orders
and payment on time
◉ stakeholder mapping. Answer: identifies the approaches a
business can take towards its stakeholders based on their level of
power over the business their interest in the business; monitor (l-l),
keep informed (h-i, l-p), keep satisified (h-p, l-i), manage closely (h-
h)
◉ list 3 reasons why businesses should consider stakeholder needs
when making decisions. Answer: decisions are likely to be consider
and implemented more easily, firm can gain more favourable
reputation from growing public interest, and productivity levels
increase due to a rise in employee motivation which ca then increase
competitiveness
, ◉ identify 2 stakeholders that needs overlap. Answer: banks and
shareholders
◉ identify 2 different stakeholder needs that cause conflict. Answer:
shareholders and employees
◉ outline a situation where managing stakeholder relationship
would require communication. Answer: a local school SLT may
embark on one-way communication to inform the local community
of its intension to open up more places to its year 7 intake; this
decision may be communicated through its website or via a
newsletter
◉ outline one situation where managing stakeholder relationship
would not require communication. Answer: when management
decide to launch a new product range, it would not need to inform
the local community or pressure groups of such action
◉ 2 examples of industrial goods. Answer: machinery and
component parts
◉ 2 examples of consumer goods. Answer: shopping goods (phones,
clothes), convenience goods (milk/bread, newspapers)