Stakeholders

Stakeholders of an organization are groups who have an interest in what the organisation does.
Stakeholders include:
• Internal such as employees, including directors and managers.
• Connected such as shareholders, customers, suppliers, financiers.
• External such as government, pressure groups, local community, wider community.
The degree to which stakeholder needs are considered as part of the objective setting process depends on the level of power they have to impact the organization and its results.
The needs of powerful groups will tend to be prioritised. For example large customers have significant power and products, prices, location of production facilities and so on may be impacted by their needs. Small cus tomers have far less power and less consideration will be paid to their individual needs.