Question: How Do Stakeholders Influence A Business?

What do stakeholders expect from a business?

Stakeholder Needs and Expectations Each stakeholder has concerns that it expects to be met by the business.

For example, the business’s owners expect it to be profitable and to distribute that profit to them while local and federal government agencies expect it to obey the law and pay its taxes on time..

How are shareholders affected by a business?

When someone buys shares, they become a shareholder and accordingly own a proportion of the company. The percentage of shares held by a shareholder determines the effect they can have on company decision making. … Shareholders may extend the remit of their role and also become directors of a company.

Why are stakeholders important to a business?

Stakeholders give your business practical and financial support. Stakeholders are people interested in your company, ranging from employees to loyal customers and investors. They broaden the pool of people who care about the well-being of your company, making you less alone in your entrepreneurial work.

Why do companies want shareholders?

Shareholders decide whether to invest more in a company – buy more stock – or take some of their investment elsewhere by selling their stock. … Shareholders are primary stakeholders of a public company because in owning shares, they are participating in ownership of the company.

What are the four types of stakeholders?

A narrow mapping of a company’s stakeholders might identify the following stakeholders:Employees.Communities.Shareholders.Creditors.Investors.Government.Customers.Owners.More items…

Can a customer be a stakeholder?

Technically, a stakeholder is anyone who impacts or is impacted by an organization’s actions or products. By that definition, customers, users, and anyone inside your organization with an interest in your product is classified as a stakeholder. … Stakeholders play a big part in internal products.

What are the needs of stakeholders?

Stakeholder needs and requirementsStakeholder needs and requirements represent the views of those at the business or enterprise operations level—that is, of users, acquirers, customers, and other stakeholders as they relate to the problem (or opportunity), as a set of requirements for a solution that can provide the …

What is stakeholder influence?

Influence: The power a stakeholder has to facilitate or impede the achievement of an activity’s objective. The extent to which the stakeholder is able to persuade or coerce others into making decisions, and following a certain course on action.