![]() It takes a village! A business often has a ripple effect on those tied to it. External stakeholders could also be vendors, neighbors, community members, regulatory committees, local government and more. Most importantly they’re your customers and clients but it doesn’t stop there. On the other hand, external stakeholders are those who are indirectly affected by your business. Internal stakeholders are those who are involved in your company direction-they’re part of operations, employees, and management. The terms internal and external stakeholders come into play as well. By considering these differing views, the company can better evaluate decisions. Each stakeholder sees the company from a different view. In the shortest definition, a stakeholder is anyone who has an interest or stake in the company. Your question is certainly a common one in today’s business world. Stakeholders are often brought up in business lingo, but it’s tough to understand if that refers to those who are investing in a company, those who work at the company, or those who stand to benefit when the company profits. Who’s considered an internal and external stakeholder? What’s the difference and why I should care about them? I’ve heard of stockholders, but now I am trying to understand the term stakeholder.
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