Syllabus A2

a) Define stakeholders and explain the agency relationship in business and how it may vary in different types of business organisation.
b) Define internal, connected and external stakeholders and explain their impact on the organisation.
c) Identify the main stakeholder groups and the objectives of each group.
d) Explain how the different stakeholder groups interact and how their objectives may conflict with one another.
e) Compare the power and influence of various stakeholder groups and how their needs should be accounted for, such as under the Mendelow framework.