Stakeholders

In this course we will be Learning about different stakeholders and how they relate to businesses. As well as this you will look into the difference between internal and external stakeholders as well as any form of conflict that might occur because of this stakeholders.

Introduction

Every entrepreneur must understand that there will be individuals and organisations that have an interest in their business. These ‘stakeholders’ are interested in how the business is performing and what affect it has on them.

Stakeholders can be defined as people, organisations, interest groups or other bodies who have an interest in what the organisation does and how it performs. Organisations need to be aware of who their main stakeholders are, what their interests are in the business and the level of influence they have. 

The most powerful stakeholders are likely to be the people who have financed the business. Stakeholders come in many forms, we will be concentrating on competitors, suppliers and customers.