Question

Identify the nature and degree of main stakeholders' interests, and implications of conflicting interests

Answer 1

Answer:

The stakeholders' interests matter a lot in case when conflicts occur.

In order to understand the degree one must be clear of the terminologies. A stakeholder is any part who is having some form of interest in the business because they are affected by it, one way or another. Example,

-owner

-employee

-shareholder

So if the situation is that an owner us having conflict with employees on pay raise or working hours, that such conflict could cause implications like,

- strike

-picketing

-negative marketing

-bad goodwill of the business name

- trade union problems

Explanation:

So you can understand that the nature and degree matters on the conflict itself, who is involved and how important is the issue. For instance, whether to allow a public holiday or not is a minor issue, but bonuses and pay raises are major issues.