Question

This group of people offer raw materials, finished products or various services to a business organisation.

1. Identify this group of stakeholders.
2. Give four expectations they may have from the business organisation.

Answer 1

1. Suppliers are the group being talked about here. Suppliers give companies the raw materials, finished goods, machinery, and services they need to run smoothly. Companies would have a hard time making goods or providing services to customers without suppliers.
2. Suppliers expect the following from the businesses they supply to:
   1. Timely Payments: Suppliers expect businesses to pay them on time for the goods and services provided. Delayed payments can cause financial difficulties for suppliers.
   2. Long-term Business Relationship: Suppliers prefer stable, long-term relationships with businesses to one-time deals. It gives them safety and a steady income.
   3. Fair Pricing and Negotiations: Businesses should offer fair prices for their goods and services instead of haggling too much, which could hurt their income, according to suppliers.
   4. Clear Communication: To avoid confusion, suppliers want clear, honest information about what the order requires, when it needs to be delivered, and any changes to the business’s needs.