1.4 Stakeholders
Internal and external stakeholders, their impact on business success, business impacts on them and sources of stakeholder conflict.
How to study WJEC GCSE Business
Learn the concept, apply it to the named business and stakeholder, use qualitative or quantitative evidence, and make a context-limited judgement.
Core concepts
Concept 1
Owners, employees and managers are internal stakeholders; customers, suppliers, communities, government, competitors and trade unions are external.
Exam cue: Identify the WJEC unit, business context, stakeholder and command word before selecting theory or evidence.
Concept 2
Stakeholders influence aims, costs, operations, reputation, sales and ethical or environmental decisions.
Exam cue: Name each stakeholder, trace how the decision changes their interest and explain the likely response or effect on success.
Concept 3
Business decisions distribute benefits and costs differently, creating conflict over pay, price, profit, quality, employment and conduct.
Exam cue: Trace the decision through a business consequence, use qualitative or quantitative evidence and finish with a context-limited judgement.
Risk pitfalls and guardrails
Listing stakeholder names without distinguishing their interests, power or consequences.
Guardrail: Avoid generic chains, unsupported current figures and cross-board assumptions; make every point depend on the given business evidence.
Importing the legacy WJEC two-exam structure, the Eduqas route or an England 9-1 grading convention.
Guardrail: Use qualification code 3160QS or 3160CS and the four-unit untiered structure; do not import the legacy WJEC or Eduqas route.
Listing generic advantages and disadvantages without applying them to the named Welsh, UK or global business context.
Guardrail: Avoid generic chains, unsupported current figures and cross-board assumptions; make every point depend on the given business evidence.
Memory anchors
Stakeholder
A person or group with an interest in, or affected by, a business.
Internal stakeholder
A stakeholder within the organisation, such as an employee, manager or owner.
External stakeholder
A stakeholder outside the organisation, such as a customer, supplier or community.
Stakeholder conflict
A clash between different stakeholder interests or priorities.
Trade union
An organisation representing employees and their workplace interests.
Business success
Achievement judged against aims and stakeholder-relevant outcomes.
Checkpoint rule
Do the check-up only after you can summarize each concept in one sentence and identify one dangerous pitfall from memory.
Knowledge Check (after reading)
Short check-up to confirm understanding of this module.
Check-up Questions
Which is an internal stakeholder of a bakery?
Which is an external stakeholder of a manufacturer?
Answer all questions to submit.
Next step personalized recommendations
Continue learning
Move forward only after this module is stable.
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