STAKEHOLDERS are individuals, groups or organisations that are affected by the activity of the business. They include:
Owners who are interested in how much profit the business makes.
Managers who are concerned about their salary.
Workers who want to earn high wages and keep their jobs.
Customers who want the business to produce quality products at reasonable prices.
Suppliers who want the business to continue to buy their products.
Lenders who want to be repaid on time and in full.
The community which has a stake in the business as employers of local people. Business activity also affects the local environment. For example, noisy night-time deliveries or a smelly factory would be unpopular with local residents.
INTERNAL STAKEHOLDERS are groups within a business - eg owners and workers.
EXTERNAL STAKEHOLDERS are groups outside a business - eg the community.