Stakeholders Explained.

Stakeholders explained.

A stakeholder is anyone who is interested in a business.  
Stakeholders can be individuals, groups or organisations that are affected by the business. A stakeholder can be an owner, manager, worker, customer, supplier, lender or even the community. 

There are two different kinds of stakeholders. 
These are internal stakeholders and external stakeholders. Internal stakeholders are groups within a business for example owners and workers. External stakeholders are groups outside of a business and examples of this are the customers and the community. 

Different stakeholders have different interests in a business. Internal stakeholders are usually interested in different things within a business compared to external stakeholders.

-The interests of internal stakeholders are of owners, managers and workers. These groups are all generally interested in money. Owners are normally interested in how much profit the business will make. Managers are typically concerned about their salary and workers commonly want to earn higher wages and primarily keep their jobs.

-The interest of external stakeholders can be about many things and not just one specific thing. External stakeholders interests are of customers, suppliers, lenders and the community. Customers mainly want the business to produce quality products and also want the prices to be adequate. Suppliers always want the business to continue to buy their products. Lenders naturally want to be paid back on time and always in full. The community is predominantly interested in the activity of the business and how that might involve the local people or the local environment.