Understanding Business
Understanding Business
11th Edition
ISBN: 9780078023163
Author: William G Nickels, James McHugh, Susan McHugh
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter 1, Problem 1CT
Summary Introduction

To think critically about: The stakeholders in the business of a restaurant in a community.

Introduction:

The stakeholders are the individuals that have interest in the business operations. These stakeholders are mainly the investors in the company or the customers and suppliers that are affected by the profits as well as the losses of the company.

Expert Solution & Answer
Check Mark

Explanation of Solution

Given information:

The assessment about the stakeholder for a new start up restaurant in a community has to be made.

Explanation:

The stakeholders that tend to show interest in the new start up of a restaurant in a community are mainly:

  • The employees of the restaurant as they want job security.
  • The customers as they want the food worth of its price and a good taste.
  • The bank that gave the owner loan for the start up as the success of the restaurant mainly determines the loan repayment on time.
  • The community in which the restaurant has to be started as they will be affected by the location of the restaurant and all their work.
Conclusion

Therefore, stakeholders that are expected to be interested in the start up of a restaurant are mainly the customers, the bank, community people and its employees.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Briefly explain your understanding of the responsibilities of a business to society.
Evaluate if it is possible for a business to meet the needs of shareholders, customers, employees, suppliers and society at the same time. How can a balance of interests be achieved?
Why does behaving legally, ethically, and socially responsible make good business sense?
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Understanding Business
Management
ISBN:9781259929434
Author:William Nickels
Publisher:McGraw-Hill Education
Text book image
Management (14th Edition)
Management
ISBN:9780134527604
Author:Stephen P. Robbins, Mary A. Coulter
Publisher:PEARSON
Text book image
Spreadsheet Modeling & Decision Analysis: A Pract...
Management
ISBN:9781305947412
Author:Cliff Ragsdale
Publisher:Cengage Learning
Text book image
Management Information Systems: Managing The Digi...
Management
ISBN:9780135191798
Author:Kenneth C. Laudon, Jane P. Laudon
Publisher:PEARSON
Text book image
Business Essentials (12th Edition) (What's New in...
Management
ISBN:9780134728391
Author:Ronald J. Ebert, Ricky W. Griffin
Publisher:PEARSON
Text book image
Fundamentals of Management (10th Edition)
Management
ISBN:9780134237473
Author:Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:PEARSON