Who are considered stakeholders in an organization?

Stakeholders in an organization encompass all parties that have an interest in its performance and outcomes. This broad definition includes not only investors and suppliers but also employees, customers, local communities, government entities, and even competitors. Each of these groups can be affected by or can affect the organization’s operations, strategies, and overall success.

Understanding stakeholders as all interested parties highlights the interconnections in business where various groups influence and are influenced by organizational activities. For instance, employees contribute to productivity and company culture, while customers drive demand and revenue. Local communities may look for corporate responsibility and ethical practices, while investors seek financial returns. By considering all stakeholders, organizations can make more informed decisions and create strategies that align with broader societal expectations and values. This comprehensive approach is vital for sustainable business practices in today's interconnected environment.