1.4 Stakeholders

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5 Terms

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Stakeholder

A person/persons that has a legitimate interest in a firm

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Examples of stakeholders

  • Local Community

  • Government

  • Rivals

  • Managers

  • Owners

  • Employees

  • Customers

  • Suppliers

  • Investors

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Quality

For a given price, it meets our wants and needs

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Types of Stakeholders

  • Internal

  • External

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Arbitration

A procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute