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A group of people who meet and campaign for a common goal.

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Consists of individuals, households and organisations that are located close to the business.

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The body of people that govern the country. It imposes taxes on businesses

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Provides services needed by the business to operate successfully

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Firms that provide raw materials to the business.

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Responsible for the day-to-day running of the business and ensures that the firm achieves its goals.

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People who buy goods and services for their personal use.

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A producer takes raw materials and transforms them during the manufacturing process into finished products.

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Recruited by the employer to work in the business in return for a wage/salary. Employees have the skills and qualifications needed to operate the business successfully.

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A person who spots a gap in the market and comes up with an idea that they can turn into a business

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An employer recruits staff to enable the organisation to carry out its business. They are responsible for providing safe working conditions for employees and paying the agreed wage/salary for work done.

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The people or organisations that provide the entrepreneur with the capital needed to establish and operate the business.

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The relationship between the stakeholders is constantly changing. It is sometimes competitive, or dependent and sometimes co-operative.

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The stakeholders need each other in order to be successful. They can not achieve their goals on their own and rely on the other party to provide them with what they need.

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Stakeholders work toward different objectives. Each stakeholder wants to be more successful than another.

Win-lose scenario

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Stakeholders have the same objective so they work together and help each other to achieve their common goals.

Win-Win scenario