Stakeholders

Stakeholders are individuals or other organizations that participate in the creation of the project or company (taking an active part in its implementation) or are directly concerned by the results of it. Stakeholders can exert influence on the organization.

Types of stakeholders

To internal stakeholders (internal stakeholders) - they have responsibility for the implementation of the project, External stakeholders are those who influence the organization acting in its environment. There are following categories of stakeholders:

• Internal
  1. employees
  2. shareholders
  3. board of directors, etc.
• External
  1. customers
  2. suppliers
  3. competitors
  4. state authorities, state and local government
  5. special interests groups
  6. financial institutions
  7. media (press, radio, TV)
  8. trade unions, etc.

Stakeholder roles

• Staff - are the persons responsible for the execution of the project, as well as its implementation. They form project teams.
• The shareholders and supervisory boards - have an impact on the organization with the right to vote. They mostly do not interfere in the affairs of running the organization, but derive income from their shares.
• Customers - their role is to exchange cash for goods or services of the organization. The term client may refer to various institutions and organizations such as: individuals, other businesses, schools, distributors and hospitals, etc.
• Suppliers - supply organization in materials, raw materials, as well as needed services.
• Competitors - competition is beneficial to the development of organization. It motivates organization to expand its activities and to obtain better results, improves efforts to expand into new markets.
• The state authorities - control the activities of the organization in order to protect the public interest and ensure compliance with the principles of free market.
• Special interest grupups - unite people in a group to spread common views on some specific issues and to express their opinions on the topic.
• Financial institutions - these are for example: insurance companies, commercial banks - they provide funds for business development, project implementation, etc.
• Media - allow contact between the external and internal actors of the market, they help in disseminating information about the activities of the company, and the implementation of the project.
• Trade unions - they deal with staff problems and needs in the organization.

See also:

• Shareholder theory

Stakeholders — recommended articles

Types of stakeholders — Enterprise — Non-profit organization — Customer — Corporate sponsor — Management by communication — Advantages of cooperatives — Holding — Chamber of Commerce

References

• Freeman, R. E., & Reed, D. L. (1983). Stockholders and stakeholders: A new perspective on corporate governance. California management review, 25(3), 88-106.