Who are Stakeholders in an Organization?
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Questions and Answers

What is a consequence of an organisation's activities that can affect the local community?

  • Transformation of the landscape due to raw material extraction
  • The distribution of wealth to the owners of the firm
  • The creation of employment opportunities (correct)
  • Pollution caused by increased volumes of traffic
  • Which of the following is not a traditional stakeholder group?

  • Employees
  • The environment
  • Customers
  • The future (correct)
  • What is a limitation of considering stakeholder groups separately?

  • Each person may belong to multiple stakeholder groups (correct)
  • Stakeholders have conflicting objectives
  • It is not possible to identify all stakeholders
  • Stakeholders are not affected by the organisation's activities
  • What is the distinction between internal and external stakeholders?

    <p>Internal stakeholders are within the organisation, while external stakeholders are not</p> Signup and view all the answers

    What is a characteristic of voluntary stakeholders?

    <p>They can choose whether or not to be a stakeholder</p> Signup and view all the answers

    Study Notes

    Stakeholders

    • Multiple definitions of stakeholders exist, including:
      • Those groups without whose support the organization would cease to exist
      • Any group or individual who can affect or is affected by the achievement of the organization's objectives

    Common Stakeholder Groups

    • Managers
    • Employees
    • Customers
    • Investors
    • Shareholders
    • Suppliers
    • Government
    • Society at large
    • Local community

    Extended Stakeholder Groups

    • The environment, which can be affected by organizational activities, such as:
      • Utilization of natural resources
      • Effects of competition
      • Transformation of the landscape
      • Distribution of wealth
      • Pollution
    • The future, as an organization's actions have a big effect on future possibilities

    Multiple Stakeholding

    • Each person may belong to multiple stakeholder groups simultaneously, such as:
      • Customer, employee, local community member, and shareholder
      • This complexity makes it unhelpful to consider each stakeholder group in isolation

    Classification of Stakeholders

    • Two main ways to classify stakeholders:
      • Internal vs external stakeholders
        • Internal stakeholders: employees, managers
        • External stakeholders: suppliers, customers, etc.
      • Voluntary vs involuntary stakeholders
        • Voluntary stakeholders: choose to be a stakeholder
        • Involuntary stakeholders: cannot choose (e.g. local community affected by pollution)

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    Identify the different groups or individuals who have a vested interest in an organization's success. Take this quiz to learn more about stakeholders and their roles.

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