Business Stakeholders: Identification and Management
Classified in Philosophy and ethics
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Defining Stakeholders
A stakeholder is any individual or group of individuals who has a direct interest in a business because the actions of the business affect them directly.
Types of Stakeholders
Stakeholders can generally be categorized into two main types:
- Internal Stakeholders: Individuals or groups that work within the business.
- External Stakeholders: Individuals or groups that are outside the business.
Note: In practice, employees are considered internal stakeholders because they are part of the business. However, as members of society, they can also be viewed as external stakeholders due to broader societal impacts.
Internal Stakeholder Groups
These individuals and groups operate within the organization:
- Shareholders
- The CEO or Managing Director
- Senior