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Evaluating Business Stakeholders

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1.2 Evaluate business aims and show how they relate to stakeholders
Stakeholders of MWS
According to http://study.com/academy/lesson/what-is-a-stakeholder-in-business-definition-examples-quiz.html (2017)
Definition of a Stakeholder
A stakeholder is any person, organization, social group, or society at large that has a stake in the business. Thus, stakeholders can be internal or external to the business
The internal stakeholders are made up of management and employees of the company they are a vital part of the company as they know the product best of all and have a vested interest in making the venture a success
External stakeholders are those outside the company and can be the major investors in the company these can be customers or government or private investors these …show more content…

The internal stakeholders are looking at quality and very important as they make the product and if this fails then the image of the company will be tarnished and sales will fall. These stakeholders have a vested interest in the company. If the project loses money then it might not be just money that the company will lose it might be there jobs too
The external stakeholders come from different areas of society that have taken an interest in what the company produce and can see that an increase in exposure to the public will increase revenue and that there is a gap in the market for this product. They also must make sure the product is of the right quality and looking to making sure the company is profitable but just like the internal stakeholders if a stakeholder has put their entire collateral into the business it can affect them more. Even to the loss of their home and their possessions
Possible

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