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Stakeholders can be divided into two main categories: Internal Stakeholders and External Stakeholders. Internal stakeholders can be considered the first line of action when it comes to implementing decisions in a company, due to the fact that they have direct influence on its organizational resources. [2]
Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.
Examples of a company's internal and external stakeholders Protesting students invoking stakeholder theory at Shimer College in 2010. The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. [1]
All shareholders are stakeholders, but not all stakeholders are shareholders.
In software and systems engineering, a use case is a potential scenario in which a system receives an external request (such as user input) and responds to it. A use case is a list of actions or event steps typically defining the interactions between a role (known in the Unified Modeling Language (UML) as an actor) and a system to achieve a goal.
In multistakeholder governance, there are three tiers of 'stakeholder' definitions: (1) the definition of the 'stakeholder category' (e.g. business); (2) the definition or the specification for selecting organizations or institutions within a 'stakeholder category' (e.g. micro-enterprises or women-owned businesses); and (3) the definition or ...
In management, a stakeholder approach is the practice that managers formulate and implement processes that satisfy stakeholders' needs to ensure long-term success. [1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.
Examples of stakeholders include employees, customers, suppliers, local residents, government agencies, and creditors. According to the stakeholder theory, the business entity should be used as a vehicle for coordinating stakeholder interests, instead of maximizing shareholder (owner) profit. A growing number of financial institutions ...