Internal Stakeholders

Business Owner/Entrepreneur (Internal) 

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They identify market opportunities, secure the necessary funding, and accept personal and financial risks, including potentially inheriting or managing family-owned businesses 

Their Importance

They are crucial as they transform initial business ideas into viable operations providing essential leadership, strategic vision , and shouldering the early risks necessary for business establishment 

Their Needs and Wants

Entrepreneurs typically aim for financial success and profitability, seek personal recognition and achievement, and value independence and control over business decisions 

Example

Shane Curran, aged 19, successfully secured over €3 million in funding to launch his cybersecurity start up

Managers (Internal)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They set objectives based on the entrepreneur's vision and organise resources effectively to achieve these business goals 

Their Importance

Essential for coordinating daily operations, motivating staff, and ensuring the business remains focused on achieving both immediate and future objectives 

Their Needs and Wants

Managers need sufficient resources (like staffing, finance, and equipment) to fulfil business objectives and typically desire recognition, career growth, and decision-making responsibilities 

Example

Anne O'Leary became Head of Meta Ireland in May 2023, previously serving as CEO of Vodafone Ireland, showcasing significant managerial progression and achievement 

Employees (Internal)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They follow the manager's instructions, share ideas, and use their skills to help the business run day to day 

Their Importance

Employees provide their time, experience, skills, ideas, and qualifications that help the business complete its daily tasks and stay productive 

Their Needs and Wants

They need fair pay, good working conditions, and to be treated with respect. Many also want better wages, improved conditions, or more responsibility over time 

Example

A busy shop needs well-trained and motivated staff to work as sales assistants to help things run smoothly for customers 

Investors (Internal)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

• Investors provide funding to a business in return for a share of ownership (called equity) hoping to earn profits as the business grows.  

• A bank can also provide funding in return for repayments with interests (called debt), but not take any ownership in the business 

Their Importance

They help the business grow by providing funding and sometimes also bring useful experience, contacts, or advice that can support business success. 

Their Needs and Wants

Investors are usually happier with higher-risk at a start-up stage in return for a larger share and would be happy to not receive any dividends initially. However, as a business matures they will seek a share of the profits through dividends, and may prefer a lower level of risk taking 

Example

Private investment companies like Act Venture Capital, or state bodies like Enterprise Ireland can provide finance to a business in return for a share of ownership called equity, helping them grow in return for future returns