Different interested group in business

Different interested group in business

In present time, it is not possible that a business only concentrate the profit making while totally ignore the social – economical relationship. There are lot of interested group in society which is directly connected by business like shareholder, employees, consumers, suppliers, and government. Here, we mention some important interested group in business: -

Share holder: - we also call them the “owner”. They require a adequate return on investment. They have complete information & a clear picture about profit and always looking for a hike in share value.

Employees: - employee requires a fair wages which take cares their living cost & growth. These require a job satisfaction environment. They are must be motivated by financial or non-financial, better working condition, medical care, retirement benefits.

Different interested group in business

Consumers: - every business depends on customer behaviour. If a business has lot of customers it shows its growth story & satiability. Every output like goods and services require customers and customers require all things with a standard and quality in a minimum price. A business also gives attention to any fault & repair, replacement, poor complaint handling and failure to delivery of goods on time.

Suppliers & creditors: - every business requires raw materials, labors, machines for a timely delivery of their goods and services. A business must pay a fair price to its suppliers for good quality materials & on timely delivery. It’s also requiring a timely payment to creditors also.

Government: - it is our duty to follow the rules passed by local, states or central government. It must a co-operation with policy maker to form a good policy with a good working environment.

Community: - the responsibility of a business for community is very important factor. Mostly, we divide it into two parts, first – as regards social, political & environment and second is improving the living condition or standard of peoples or human being.