Stakeholders

people/group who have interest/stake in b. activities as they may be affected by them

internal → people/group directly involved daily activities of business

owners, management, employees

external → people/groups not involved in daily activities of business, but generally affected

financiers, govn, local communities, pressure groups, suppliers, customers

benefit of meeting stakeholder needs

• improved relationships → more trust

• access to wider network of contacts

• improved reputation

drawbacks

• time consuming

• risk of upsetting stakeholders