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    Stake Holder's Definition

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    Victor Varghese
    Stakeholders are individuals or groups that are impacted by or can impact a project. There are three main categories of stakeholders: internal/external, primary/secondary, and direct/indirect. Internal stakeholders work within an organization while external stakeholders are outside but still impacted. Primary stakeholders are most impacted by or add the most value to a project, like employees or customers. Secondary stakeholders provide indirect support. Direct stakeholders are involved in daily project work, while indirect stakeholders care about project outcomes like customers. When prioritizing stakeholders, customers, employees, and investors should usually come first. A stakeholder has an interest in a business, while a shareholder owns shares in a business.

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    Stake Holder's Definition

    Uploaded by

    Victor Varghese
    77 views2 pages
    Stakeholders are individuals or groups that are impacted by or can impact a project. There are three main categories of stakeholders: internal/external, primary/secondary, and direct/indirect. Internal stakeholders work within an organization while external stakeholders are outside but still impacted. Primary stakeholders are most impacted by or add the most value to a project, like employees or customers. Secondary stakeholders provide indirect support. Direct stakeholders are involved in daily project work, while indirect stakeholders care about project outcomes like customers. When prioritizing stakeholders, customers, employees, and investors should usually come first. A stakeholder has an interest in a business, while a shareholder owns shares in a business.

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    Stakeholders are individuals or groups that are impacted by or can impact a project. There are three main categories of stakeholders: internal/external, primary/secondary, and direct/indirect. Internal stakeholders work within an organization while external stakeholders are outside but still impacted. Primary stakeholders are most impacted by or add the most value to a project, like employees or customers. Secondary stakeholders provide indirect support. Direct stakeholders are involved in daily project work, while indirect stakeholders care about project outcomes like customers. When prioritizing stakeholders, customers, employees, and investors should usually come first. A stakeholder has an interest in a business, while a shareholder owns shares in a business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    77 views2 pages

    Stake Holder's Definition

    Uploaded by

    Victor Varghese
    Stakeholders are individuals or groups that are impacted by or can impact a project. There are three main categories of stakeholders: internal/external, primary/secondary, and direct/indirect. Internal stakeholders work within an organization while external stakeholders are outside but still impacted. Primary stakeholders are most impacted by or add the most value to a project, like employees or customers. Secondary stakeholders provide indirect support. Direct stakeholders are involved in daily project work, while indirect stakeholders care about project outcomes like customers. When prioritizing stakeholders, customers, employees, and investors should usually come first. A stakeholder has an interest in a business, while a shareholder owns shares in a business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Stakeholders

    Stakeholders – Definition, Categories and Types

    Stakeholders can be understood as an individual, group of people, members, or any organization that get
    affected by the result of an associated project.
    Stakeholders are those who have an interest in the accomplishment of an undertaking, plus they can be
    inside or outside the organization responsible for sponsoring the task. Some of the most basic instances of
    stakeholders incorporate workers, clients, investors, shareholders, communities, suppliers, and
    governments.
    Different people who have a stake in a business or project also comprise various interests, and companies

    Three Categories of Stakeholders

    All types of stakeholders can be categorized into three different categories


    Internal or external
    Primary or secondary
    Direct or indirect
    Let us understand these categories first, and then, in the next section, we will delve into ten different types
    of people who might have a stake in a business-
    1. Internal & External Stakeholders
    You may understand internal stakeholders as those partners who have internal existence in business. An
    undertaking, task, or project straightforwardly influences them, and their best example is employees.
    On the other hand, external stakeholders have an interest in the achievement, success, and growth of a
    business; however, they don’t have an immediate association with the project or assignment. Suppliers can
    2. Primary & Secondary Stakeholders
    The primary stakeholders comprise the most elevated level of enthusiasm for the result of a particular
    project or task since the result straightforwardly influences them.
    They effectively add value to a venture. Team leaders or customers come under this category.
    While secondary stakeholders additionally help to finish a venture or a project, however, they do this on a
    lower and more general level. Partners who assist in financial, administrative, and legal processes come
    3. Direct & Indirect Stakeholders
    The third category is associated with direct stakeholders who are engaged with the everyday tasks related
    to a venture or assignment. Workers can be viewed as direct stakeholders.
    On the other hand, indirect stakeholders focus on the result of the completed tasks instead of the way
    toward finishing it. Consumers can come into this category. They care about things like packaging, pricing,
    How to Position or Prioritize Stakeholders
    Businesses or organizations need to organize rank or prioritize different stakeholders.
    Different stakeholders have different sorts of interests, and that is why, when they are aligned adeptly,
    their management becomes very easy.
    As per the suggestions of Jack Ma, the CEO of Alibaba, stakeholders should be mainly prioritized in the
    following manner-
    Customers or clients or users
    Workers or employees
    Investors
    There is also confusion between Stakeholders and Shareholders, as many of the people think both of the
    Difference between Stakeholder and Shareholder
    When it comes to the difference between both of these terms, you need to understand that a stakeholder
    is any individual who has any sort of stake in a business, while on the other hand, a shareholder is like an
    investor who owns shares (stock) in business and accordingly comprises an equity interest in the business.
    Conclusion
    On the concluding note, we hope you would have understood that a stakeholder has an interest in an
    organization and can either influence or be influenced by the business channelization.
    The most primary stakeholders of any company are employees, customers, suppliers, and investors.

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