Stakeholders are people, organizations, or other entities who have an interest or stake in a certain project, organization, or initiative. They have the ability to either affect or be influenced by the project's or organization's activities and decisions. Depending on their level of involvement, interest, and impact, stakeholders can be divided into a number of different types. Here are a few typical categories of stakeholders:
The internal constituencies
Employees: The organization's workforce, which includes all management and staff positions.
Owners/Shareholders: People or organizations that possess stock or equity in the company.
Board of Directors: A group of people in charge of supervising managerial and strategic choices at the organization.
External parties:
Customers: Persons or organizations who avail themselves of the organization's goods or services.
Suppliers & Vendors: Businesses or people who offer the organization products or services.
Investors are groups or individuals who provide money to a business, such as angel investors or venture capitalists.
Institutions or private persons who lend money or extend credit to the company are known as lenders and creditors.
Government: The oversight and regulation of the organization's operations by regulatory organizations, agencies, and government representatives.
Communities: The local neighborhoods and people who live close to where the organization operates.
Non-Governmental Organizations (NGOs): Nonprofit organizations and advocacy groups that may be interested in the organization's actions, particularly in relation to their effects on the social or environmental environment.
Competitors are businesses or organizations that are involved in the same market or industry.
Depending on the situation and nature of the project or organization, the significance of each category of stakeholder can change. To guarantee that these stakeholders' concerns and interests are taken into consideration in decision-making processes, effective stakeholder management entails recognizing, prioritizing, and engaging with these stakeholders.
