Stakeholders are the different parties who are interested in business activities. These parties are interested in business operations in order to fulfill various objectives | Start New Business

 

Let us study about the stakeholders mentioned in the above figure in detail| Start New Business

Owners –  Owners are the persons providing resources to the business. The owner of a business can be either a single person or a group of persons.

Managers – The business operations are conducted and decisions of the owners are implemented by managers. In large scale businesses, there can be a number of managers such as finance manager, marketing manager, etc.

Customers – Customers are the persons who buy goods and services from a business. They can buy these goods either with the re-selling motive or with the motive to use on their own consumption.

Suppliers – Suppliers are the providers of raw materials, transport facilities, etc. to a business.

Competitors – Competitors are other businesses producing or selling similar goods or services to a business in operation.

Financial – Financial institutions are the institutions providing institutions required loans, consultancy services etc. to a business.

Employees – Individuals performing the operations of a business are known as employees.

Government – The government propagates policies required to achieve the economic growth of a country.

Community – Includes the population living outside of the business in the society

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