1.4 Stakeholders

Question 1

Define stakeholder

Answer 1

Any individual, organisation or group with interest in actions and outcomes of a business

Question 2

Internal stakeholder

Answer 2

Part of organisation or direct relation
> employees, CEO, shareholders, investors

Question 3

External stakeholder

Answer 3

Not part of organisation
> Has direct interest in performance
> Labour/trade unions, suppliers, customers

Question 4

Why does stakeholder conflict occur?

Answer 4

> Due to varying interests of different stakeholder groups
People within same stakeholder categories can have varying interests