What Is a Stakeholder?

A stakeholder is a person or a group who has a particular interest in the course or outcome of a project.

A large number of different stakeholders have direct or indirect effects on the company or participate in the company in one way or another.

There are stakeholders who are close to the company, such as employees and suppliers. These groups even help the company to achieve the success it is supposed to. While employees in production set a transformation process in motion, the so-called knowledge workers are working on how to turn ideas into reality. The focus here is on the respective knowledge in the functions of marketing, finance and human resources. Suppliers are there to ensure that the products can be put together because they supply the raw materials or intermediate products required for the transformation process. Thus one should pay attention here to the fact that the procurement of the input is arranged as efficiently and cost-reducing as evenly possible.

In addition, however, external stakeholders can also have a direct influence on the company's activities. The state can act as a regulating power through sanctions or subsidies that have a positive or negative impact on the company. In addition, each company only operates within the framework conditions of the country in which it operates. Subsidies and sanctions also play a role here, in addition to the legal framework. Other stakeholders can be the public, which is exposed to negative external effects due to a company's potential environmental pollution, for which the company could be punished by internalisation measures, as well as competitors, which can also influence the market.

All stakeholders can be classified according to their influence and interest in the company's mission. This positioning is then reflected in the stakeholder matrix.

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