Business Stakeholders, Environment, and Ethical Standards
Classified in Economy
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Internal Stakeholders
Internal stakeholders are individuals or groups with a vested interest in the business, including:
- Employees: The workforce that contributes to the organization's success.
- Owners: Shareholders who hold stock and possess a degree of influence over the organization.
- Board of Directors: Governing bodies in public and nonprofit corporations tasked with protecting the owners' interests.
External Environment
The external environment is divided into two categories:
Task Environment
Factors that have a direct impact on every organization, such as:
- Customers
- Competition
- Suppliers
- Labor force
- Governments
General Environment
Factors that may or may not impact an organization:
- Economy: Fluctuations in inflation and currency value.
- Technology: Rapid