StakeholdersManagers

Businesses have many different stakeholders who each have a key interest in how a business operates. Stakeholders often have influence over the decisions made by business organisations.

Part ofBusiness managementUnderstanding business

Managers

A post office manager
Image caption,
Managers are responsible for the day-to-day running of a business

are entrusted by owners with the day-to-day running of their businesses. Managers have to motivate employees to be productive and to offer excellent customer service. Managers also have to report to the owners.

Managers live by their results. Poorly performing managers do not last long in post.

Managers have an interest in a business doing well so that they:

  • get promoted
  • win bonuses
  • have job security

Managers can influence how a business operates by:

  • hiring and firing
  • creating company policies
  • making day-to-day decisions and long term decisions