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Business

Stakeholders

TermDefinition
Stakeholders An individual or a group that has an interest in a organisation and can either affect or be affected by that organisation
Internal stakeholder Individuals and parties within the organisation e.g employers
External stakeholder Don’t work within a business but affected by its activities e.g consumer
Entrepreneur Use their initiative to spot a gap in the market and take personal and finanacial risk of setting up a business in aim to make a profit
Owners Individuals or entities that hold legal ownership of a business
Employers Hire employees to complete work in return for wage or salary
Employees Work in a business in return for a wage or salary
Board of directors Bod is the governing body of a company consisting of the most senior managers
Investors Provide capital for a business
Suppliers Provide raw materials required by a business
Manufacturers Turn raw materials into finished products to sell to consumers
Service providers Businesses that supply services required by the business
Consumers people who buy or use goods and services for personal use rather than for business purposes
Local community The people who live in the area where a business is situated
Government The elected representatives and administratives bodies responsible for governing
Trade associations Represent businesses involved in similar types of activities
Interest groups Organisations that represent people with a common interest
Lobbying Practice of influencing government decisions by communicating with decision makers or gaining media attention for a certain viewpoint
Created by: Aoibhefreeney
 

 



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