Stakeholders

Question 1

What is a Stakeholders

Answer 1

A stakeholder is any individual, group, or entity that has an interest or concern in the activities, decisions, or outcomes of a business or organization.

Question 2

Types of Stakeholders

Answer 2

1. Internal Stakeholder

2.External Stakeholder

Question 3

Internal Stakeholder

Answer 3

Internal Stakeholder are individuals within an organization who have an special interest in its activities and how well its performs. Internal stakeholders example; Customers, Manager, Owners, etc.

Question 4

External Stakeholder

Answer 4

External stakeholders are individuals, groups, or entities outside of a company who have an interest or concern in its activities, decisions, or outcomes. They can include customers, suppliers, investors, regulators, local communities, and other organizations impacted by the company’s operations.

Question 5

Roles of stakeholders in business {Internal Stakeholders}

Answer 5

1. Investors/Shareholders:

Provide financial capital to the organization.
Expect a return on their investment, such as dividends or capital appreciation.

2. Board of Directors : To develop strategic goals for the business in order in order to ensure profit maximization and wealth maximization .
3. Managers : To maximization profit or make maximum returns on investments made by owners into the business.

To ensure that employees are productive also treated fairly.

4. Employees To perform duties so as to ensure that the business continues to maximize profit and that their gob remain secure.
5. Government - To ensure that he business operated within the scope of the laws of the business .

To ensure that the business pubish financial reports that are accurate where necessary and to protect consumers .

6. Customers- To ensure that the products and services offered by business are of good quality and are reasonably priced. and to encourage competition among firms and influence product pricing.
7. Suppliers - To provide business with necessary raw materials for the production of goods of services .
8. Leading institutions - Provide financial assistance to business in the form of loans or financial advise.
9. The community- To ensure that the business within the community operate within the law and contribute towards the development of the community.
10. Competitors - To stimulate competition.