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Stakeholder

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💼Business
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Definition: A stakeholder is a person, group, or organization that has an interest or concern in something, especially a business. In a business context, stakeholders might include employees, customers, suppliers, shareholders, financiers, and the community in which the business operates.

A stakeholder is someone who has an interest or concern in something, especially a business. Imagine that you and your family own a lemonade stand. The people who have a stake in the lemonade stand are the stakeholders. This includes you and your family, the customers who buy lemonade, the people who supply the ingredients, and the community where the lemonade stand is located. Everyone who has a stake in the lemonade stand has a right to be involved in decisions that affect it. For example, if you want to change the price of the lemonade or move the stand to a new location, you need to consider how these decisions will affect the other stakeholders. It's important to think about the needs and concerns of all the stakeholders when making decisions, because they all have a stake in the success of the lemonade stand.