What is a stakeholder? Provide examples of stakeholders.

Definition: Stakeholders are those who have stake in the business; the future of the business. • Stakeholders can be diverse, including owners, customers, suppliers, employees and communities. (Internal and External stakeholders) • Stakeholder needs and demands can diverge widely, especially in the short term • Strategic decisions are influenced by stakeholder expectations • Managers have to be aware who their stakeholders are, what they want, and which have most influence upon their strategies.