who are stakeholder in companyPRIMARY: customers, suppliers, Owners, EmployeesSECONDARY: media, government, Court
Question
who are stakeholder in companyPRIMARY: customers, suppliers, Owners, EmployeesSECONDARY: media, government, Court
Solution
Stakeholders in a company can be divided into two categories: primary and secondary.
Primary stakeholders are directly involved with the company and its operations. These include:
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Customers: They purchase the company's products or services. Their satisfaction is crucial for the company's success.
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Suppliers: They provide the necessary materials or services for the company to operate. A good relationship with suppliers can lead to better prices and quality.
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Owners: They have invested in the company and expect a return on their investment. They can influence the company's decisions and strategies.
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Employees: They work for the company and their performance can directly affect the company's success. They also expect fair treatment and compensation.
Secondary stakeholders are not directly involved in the company's operations, but they can influence or be influenced by the company. These include:
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Media: They can shape public opinion about the company. Positive media coverage can boost the company's reputation, while negative coverage can harm it.
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Government: They regulate the company's operations. Compliance with government regulations is crucial to avoid penalties and legal issues.
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Courts: They can enforce legal obligations and resolve disputes involving the company. A company must respect the law to avoid legal problems.
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