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You are here: Home > Educators > Level 2 Business and Economics Education > Knowing your Stakeholders |
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Knowing your StakeholdersMany businesses realise that they have a number of responsibilities in carrying out their activities. These responsibilities can be different depending on who it is that has an interest in the business. A stakeholder is any person or group of people with an interest in the success of a business. Note that in this definition we have placed an emphasis on 'the success' of a business. This means that competitors are not included as stakeholders according to this definition because they have an interest in the business but not its success. The map below shows the main stakeholder groups in any business. 
This resource will look at some of the rights and responsibilities of each stakeholder group and look at some examples of where the different expectations of each stakeholder group might conflict with others. The problem for the business is how they satisfy the different responsibilities they have to these different groups! |
