Syllabus: International Baccalaureate - Individuals and societies - Business management (Standard Level)
Module: Unit 1: Introduction to Business Management
Lesson: 1.4 Stakeholders
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Introduction
Topic 1.4 of the IB Business Management Standard Level course introduces students to the vital role of stakeholders in business activity. Aligned to the International Baccalaureate – Individuals and Societies pathway, this unit builds commercial awareness by requiring students to identify, analyse, and evaluate stakeholder interests and influences.
This article supports educators across SLT, careers leads, and business teaching staff by linking directly to the IB syllabus content while showcasing meaningful pedagogy, assessment insights, and career relevance. The topic directly supports workplace readiness through applied stakeholder analysis – a core skill across all sectors.
Key Concepts
In line with the IB Business Management Standard Level guide, students will need to:
Define stakeholders and explain why they are important to businesses.
Distinguish between internal (e.g. employees, managers, shareholders) and external stakeholders (e.g. customers, suppliers, government).
Understand that stakeholder groups often have conflicting objectives.
Apply stakeholder mapping to assess relative power and interest (e.g. Mendelow’s Matrix).
Evaluate how businesses balance stakeholder conflict and make decisions considering multiple perspectives.
Analyse how stakeholder influence varies depending on organisational size, context, and sector.
The IB’s emphasis on inquiry-based learning means students are expected not only to describe but also to analyse and evaluate stakeholder interactions using real-world business examples.
Real-World Relevance
Stakeholder relationships shape the success or failure of real businesses daily. Consider the following examples for lesson enrichment:
John Lewis Partnership – an employee-owned retailer where staff are internal stakeholders with a direct share in profits. Their model helps students understand how stakeholder structure can influence organisational goals.
Starbucks – faced public backlash when it was revealed they paid low corporation tax in the UK. The reaction of customers, the media, and government showcases stakeholder pressure in action.
British Airways – during union strikes, the tension between management and employees highlighted internal stakeholder conflict affecting service delivery and reputation.
Apple Inc. – decisions on global supply chains often impact stakeholder groups differently: consumers expect speed and affordability, while suppliers push back on price and workers advocate for ethical standards.
These cases provide relevant commercial context and support Gatsby Benchmark 4 by linking curriculum learning to careers.
How It’s Assessed
IB assessments for this unit typically appear in Paper 1 and Paper 2 and involve structured and extended response questions using command terms such as:
Define – e.g. “Define the term stakeholder.”
Distinguish – e.g. “Distinguish between internal and external stakeholders.”
Explain – e.g. “Explain how stakeholders influence business objectives.”
Analyse – e.g. “Analyse the impact of stakeholder conflict on a business.”
Evaluate – e.g. “Evaluate strategies a business could use to manage stakeholder conflict.”
Students are assessed on their knowledge, application, analysis, and evaluation. Markschemes reward real-life examples and clear structure using business tools such as stakeholder mapping.
A strong answer integrates:
Specific stakeholder groups
Impact of decisions
Real-world examples
Critical judgement
Enterprise Skills Integration
This topic powerfully develops commercial awareness and decision-making – both identified as core workplace skills in the Enterprise Skills thematic framework.
Students apply:
Strategic decision-making: weighing up different stakeholder pressures and making trade-offs
Problem-solving: identifying solutions to conflicting interests
Professional communication: considering how to communicate decisions to different audiences
Team dynamics: understanding internal relationships within businesses
Enterprise Skills simulations (available via Skills Hub Futures) provide realistic scenarios for students to practise resolving stakeholder tensions. For example, managing a product recall affecting customers, suppliers, and investors – with each group having different priorities.
Research shows this type of active learning can increase comprehension by over 70% compared to passive lecture formats.
Careers Links
Stakeholder management is a cross-sector career skill embedded into roles from retail to healthcare. This lesson supports Gatsby Benchmarks 4, 5 and 6 by:
Linking business theory to workplace roles such as account managers, project leaders, policy officers, and HR advisors
Offering opportunities for employer engagement, such as hosting virtual Q&A sessions with professionals managing stakeholder relationships
Providing a foundation for careers in public relations, operations, and customer service, where balancing stakeholder interests is part of daily work
Skills Hub Futures supports these outcomes with mapped sessions like:
“Customer Focus – Understanding stakeholder needs”
“Data-Driven Decisions – Balancing inputs for action”
Teaching Notes
Tips for delivery:
Use stakeholder role play to help students embody different perspectives (e.g. employee vs shareholder in a pay rise debate).
Incorporate a news carousel – students analyse recent headlines for stakeholder issues.
Apply stakeholder mapping using real or fictional scenarios – plot influence and interest on a 2×2 matrix to guide decision-making.
Common pitfalls:
Students often oversimplify stakeholder conflicts – encourage nuance and analysis.
Misidentifying stakeholders – clarify that not all affected parties hold power or influence.
Failing to apply theory to real business cases – scaffold the use of examples early and often.
Extension activities:
Compare stakeholder priorities in non-profit vs for-profit organisations.
Research a local business or school to map stakeholder dynamics.
Integrate cross-curricular learning: link stakeholder theory to geography (urban planning) or politics (public policy).
