FIN 305 Study Guide - Midterm Guide: Accounts Receivable, Jab, Net Income
28 Oct 2015
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Identifying who the key players are, their primary motivations for being involved with the business, their financial goals and objectives, and the decisions they make. Interested in situations where those decisions are about and have financial consequences for the business entity. 9 most common stakeholders for a profit oriented business entity. Founders: formulated the mission, vision for the entity and often put a small amount of their capital in, which may seem large to them. Often owners, engaged in developing products and technology, getting initial customers, recruiting initial staff, obtaining capital, and starting operations: customers: purchase the entity"s goods/services and provide the critical revenues for the business entity. Why do stakeholders matter: the continued commitment of most types of stakeholders is important to the business" success. Driving force to cause the business to pursue its mission and grow. Planning and execution; help realize the mission by getting things done on a daily employees.
