Stakeholders

Stakeholders are groups of people who have an interest in the projects, policies, or outcomes of an organization's decisions. Sometimes called constituent groups, they follow the actions of the organization and lobby to have their interests satisfied.

These stakeholders affect strategy formulation. Employees want more wages and job security, suppliers want longer-term relationships, customers want faster service, and shareholders want more dividends and higher stock prices. Organizations will often adapt their strategies to accommodate powerful stakeholders such as unions or regulatory agencies or customers. Let us look at some of these stakeholders.

Stakeholders are the customers, investors, employees, and public affected by or with an interest in a company.