External Stakeholders

Consumers (External)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They purchase goods or services from the business, give feedback on what they like or don't like, and can become advocates for the business, especially through social media 

Their Importance

Consumers drive revenue through their purchases and help the shape the business's brand reputation by sharing opinions or promoting products online. They can also share ideas/feedback to help develop new ideas 

Their Needs and Wants

Consumers look for quality and value for money, expect excellent customer service, and often want to support businesses that act in a way they see as ethical or sustainable 

Example

Patagonia is seen as an environmentally and ethically responsible brand, and its consumers are happy to pay higher prices because they belief in the business's values 

Local Community (External)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They are the people that surrounds and interacts with the business, often through shared space, services, or employment 

Their Importance

A supportive community creates goodwill and can provide a reliable base of customers and employees, helping the business succeed 

Their Needs and Wants

The community may want local job creation, access to important goods or services, environmental responsibility, and ethical business practices from the businesses operating nearby 

Example

Bayside Aldi

Suppliers (External)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They provide the raw materials, products, or services that a business needs in order to produce and deliver its own goods or services 

Their Importance

Reliable suppliers allow for consistent production and service delivery by supplying quality inputs on time, helping the business stay efficient and meet customer demand 

Their Needs and Wants

If selling goods on credit, they want to be paid on time and may prefer longer-term contracts to protect their own financial sustainability 

Example

McDonald's sources all the beef for its burgers sold in Ireland from 100% Irish farms, showing how it relies on local suppliers to meet its standards 

Government (External)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

It regulates and oversees business activities, and provides grants and incentives to support businesses starting up or planning to expand. 

Their Importance

During start-up and expansion, the government can offer training, mentoring, and funding through bodies like Local Enterprise Office or Enterprise Ireland, especially for businesses aiming to export or scale 

They also try to create a positive business climate for businesses to operate in by lowering taxes, offering training for employees and developing infrastructure 

Their Needs and Wants

The government expects businesses to comply with laws, pay their tax contributions, and act with social responsibility. They also want Irish firms to sell goods/services abroad to help bring more money in to the Irish economy, and to create jobs to lower unemployment 

Example

Local Enterprise Office

Interest Groups (External)

Role in the Business

Their Importance

Their Needs and Wants

Example

Role in the Business

They represent the common viewpoint, objectives and goals of a particular groups of stakeholders, and are also known as pressure groups or lobby groups 

Their Importance

They help promote the interests of their members by negotiating or informing other stakeholders about what those members want from a particular station 

Their Needs and Wants

Interest groups aim to influence decision-makers through methods like lobbying, media campaigns, public protests, boycotts, and sometimes legal action 

Example

In 2024, the Small Firms Association (SFA) lobbied the Government to support small businesses with the rising costs of running their operations