Stakeholders are the individuals or groups who have an interest in the outcomes of a business. Key stakeholders typically include:
- Shareholders: They have a financial stake in the form of equity. - Employees: Their interest lies in job security, wages, and working conditions. - Customers: They seek quality products and services at reasonable prices. - Suppliers: They are interested in maintaining a profitable and ongoing relationship. - Community: They have a vested interest in the company’s ethical practices and corporate social responsibility.