Internal Stakeholders In Business

A stakeholder is anyone who has an interest in a business either from an internal or external perspective. This means they are affected by the business and its actions. A stakeholder can play an active part in running the business or can be passively affected based on how the business operates.

A. INTERNAL STAKEHOLDERS (Directly Involve With Business)1. DIRECTORS Director refers to a rank in management. A director is a person who leads, or supervises a certain area of a company, a program, or a project.

Directors look for:• Salary• Share Option• Job Satisfaction• Status• Bonuses & Perks

INTERNAL STAKEHOLDERS2. MANAGERS A Manager is a person who drives the work of others in order to run a business efficiently and make a large profit.

Managers

SUPPLIERS A party that supplies goods or services. A supplier may be distinguished from a contractor or subcontractor, who commonly adds specialized input to deliverables. Also called vendor.

Supplier look for:• A long term relationship with the firm• Large size and value of contracts• Frequent and regular orders• Prompt payment• Fair prices• Growth of the firm leading to more orders

CONNECTED STAKEHOLDERS4. ADVISERS An Advisers is normally a person with more and deeper knowledge in a specific area i.e. a specialist.

Advisers look for:• Profit maximization• Returns on money invested• Repayment of loans

CONNECTED STAKEHOLDERS5. CONSULTANTS A Consultant is usually an expert or a professional in a specific field and has a wide knowledge of the subject matter.

Consultants look for:• Wide knowledge of the subject matter• Medical sphere ( for a grade doctors )• Improvements in organization strategy• People management• Improvement of operational

COMPETITIOR Any person or entity which is a rival against another. In business, a company in the same industry or a similar industry which offers a similar product or service.

Competitor look for:• To compete by all lawful means• To differentiate its product from those of other businesses• Keeping up with innovation• Avoiding anti-competitive practices

C. EXTERNAL STAKEHOLDERS ( Not Directly Involve With Business But Have An Interest )1. GOVERNMENT A Government is the system by which a state or community is governed. Government normally consists of legislators, administrators, and arbitrators.

Government look for:• Compliance with laws and regulation• Efficient use of resources• Employment• Contribution to National Economy• Payment of taxes• To control the business operation• To assist business

EXTERNAL STAKEHOLDER2. LOCAL COMMUNITY A Local Community is a group of interacting people sharing an environment. In human communities, intent, belief, resources, preferences, needs, risks, and a number of other conditions may be present and common, affecting the identity of the participants and their degree of cohesiveness.

Local Community look for:• Employment prospects• Sage guarding the environment• Acceptance of social responsibility• Road building• Pollution control• Safety• House