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What Are Stakeholders in Business?

Date  |  Category Business Studies
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What Are Stakeholders in Business?

Stakeholders are individuals, groups, or organizations that have an interest in the success or failure of a business. They can be internal or external, and their interests can be financial, social, or environmental.

Types of Stakeholders:

Internal Stakeholders:

External Stakeholders:

Importance of Stakeholders:

Understanding the interests and needs of stakeholders is crucial for the long-term success of any business. Here's why:

Stakeholder Engagement:

Effective stakeholder engagement is key to managing relationships and ensuring alignment with business goals. This includes:

By understanding and engaging with stakeholders, businesses can create a more sustainable and successful future for themselves and their communities.