1 Explain one difference between the shareholder concept and the stakeholder concept. [3]

b) Evaluate how this business might overcome a conflict of stakeholder aims caused by a decision to open a large new supermarket.

To overcome a conflict of stakeholder aims caused by a decision to open a large new supermarket, the business could take several actions.

Firstly, the business could engage with the local community and stakeholders to understand their concerns and priorities, and seek to address them in the design and operation of the new store. This could involve incorporating sustainable and environmentally-friendly features, such as energy-efficient lighting and waste reduction programs, and offering products that meet local needs and preferences.
Secondly, the business could work with its suppliers to ensure that they are meeting ethical and sustainability standards, and communicate this to customers. This could help to build trust and loyalty among customers who prioritize these values.
Finally, the business could prioritize employee training and development to ensure that they are equipped to provide excellent customer service and maintain high standards in the new store. This could involve providing training on customer engagement, product knowledge, and sustainability practices, and providing opportunities for career advancement and personal development.