Who can be classified as a stakeholder in a business?

Individuals with an interest in a business can be defined as stakeholders because they are any parties that have an interest in the performance and actions of the business. This broad definition encompasses a variety of groups, including owners, shareholders, employees, customers, suppliers, and the community at large. Stakeholders can influence or be influenced by the company's operations, decisions, and objectives.

The inclusiveness of this definition is significant as it emphasizes that stakeholders are not limited to just one type of group. For instance, while owners and shareholders are indeed stakeholders, employees and customers also hold stakes in the company's success and performance. Thus, recognizing the diverse range of individuals with an interest helps in understanding the wide array of influences and responsibilities a business has in its operations. This comprehensive perspective is essential for effective stakeholder management and engagement.