Question

1. Define a business stakeholder? Who are the stakeholder groups of businesses and what is it that makes them stakeholders?

2. What are the benefits of globalization of trade? What are the problems associated with globalization of trade? And what are two methods countries can use to restrict free trade?

3. What are the key roles of the Bank of Canada? What are two ways the Bank Canada uses to control Canada’s money supply and why would it increase or decrease the money supply?

4. Define and explain supply curves and demand curves and how they can be used by companies to establish prices? What are their limitations?

5.Why would a company practise corporate social responsibility? Provide three examples of companies you know that practise Corporate Social Responsibility. What are some reasons they do so? Can you provide an example of a company not being socially responsible?

Answer 1

Answer - The business stakeholders are the persons or the group of persons which are directly or indirectly affected by the operations of the business.

The group of stakeholders include the creditors , employees , debtors , customers , government authorities etc. The creditors are interested in knowing about the solvency capacity of business. The customers are interested to know about the goods and services provided. The government institutions keep an eye on the regulations being met by the business. In this way these groups are interested in the business organisation and hence are called the stakeholders.