Business Studies·The nature & purpose of business · NSSCO 1.1
Groups in business activity & the conflict of objectives
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A business is never just its owner. Around every business stands a whole ring of groups — the people who buy from it, work in it, run it, own it, lend it money and live near it. Each of these groups wants something different, and their wants often pull against each other. In this lesson we name the groups involved in business activity, set out what each one wants, see where their objectives clash, and finish by explaining why a business's priorities change over time.
What you'll learn in this lesson
By the end you should be able to (NSSCO Business Studies 1.1):
- State the groups involved in business activity
- Identify the objectives of the groups involved in business activity: consumers, workers, managers, owners, those with a financial interest, the community as a whole
- Give examples of the conflict of objectives between the various groups involved in business activities
- Explain the ways in which priorities change
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Miss Maria and Mike talk through the whole topic — with the figure and working drawn live.