Business – 1.5 Stakeholders – Relative importance and influence | e-Consult
1.5 Stakeholders – Relative importance and influence (1 questions)
Login to see all questions.
Click on a question to view the answer
Accountability builds trust, ensures long‑term sustainability and can improve performance. For example:
- Shareholders/owners: Transparent reporting on profits and risks reassures investors, helping to maintain share price and access to capital.
- Employees: Clear communication about policies, wages and health & safety shows respect, leading to higher morale, lower turnover and greater productivity.
- Customers: Demonstrating responsibility through product quality, ethical sourcing and after‑sales service enhances brand reputation and loyalty, driving sales.
Overall, when a business is accountable it reduces conflict, attracts resources and creates a competitive advantage.