7115 · 1.5
Business objectives and stakeholder objectives
**Business objectives and stakeholder objectives** (1.5). A **stakeholder** is not the same as a **shareholder** — examiners check you know the difference and can show where objectives conflict.
Need to know
What you need to know
- Stakeholders are any party with a direct interest in a business's success.
- Internal stakeholders are part of the organisation, e.g., employees, managers, owners.
- External stakeholders are outside the organisation but are impacted by it, e.g., customers, suppliers, government.
- The relationship (internal or external) determines the nature of the stakeholder's objectives and influence.
Explanation
Business objectives and stakeholder objectives
- Stakeholders are any party with a direct interest in a business's success.
- Internal stakeholders are part of the organisation, e.g., employees, managers, owners.
- External stakeholders are outside the organisation but are impacted by it, e.g., customers, suppliers, government.
- The relationship (internal or external) determines the nature of the stakeholder's objectives and influence.