These parties are crucial to the success of your business

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00:00A stakeholder is any individual, group, or organization that has an interest or concern in an entity.

00:07Stakeholders can affect or be affected by the entity's actions, objectives, and policies.

00:14They are essential because they can influence the success and sustainability of an organization.

00:20Internal Stakeholders

00:22Employees

00:23They work for the company and their well-being and job security depend on its performance.

00:29Managers and Executives

00:31They make decisions and their success is tied to the company's success.

00:36Owners slash Shareholders

00:38They invest money in the company and expect returns on their investment.

00:42External Stakeholders

00:44Customers

00:45They buy the company's products or services and expect quality and value.

00:50Suppliers

00:51They provide the goods and services needed for the company's operations.

00:56Investors

00:57They provide capital and expect financial returns.

01:01Creditors

01:02They lend money to the company and expect to be repaid with interest.

01:06Government

01:08They regulate the company and expect compliance with laws and regulations.

01:13Community

01:14They are affected by the company's operations,

01:16such as through employment opportunities and environmental impact.

01:21Employees

01:22Example

01:23In a tech company, software developers are employees.

01:27They are interested in their salaries, job security, career growth, and a good working environment.

01:34If the company performs well, they might get bonuses and promotions.

01:38If not, they might face layoffs.

01:41Managers and Executives

01:43Example

01:44The CEO of a retail chain is a key internal stakeholder.

01:49Their role involves making strategic decisions that influence the company's direction.

01:54Their performance is often linked to the company's performance through stock options or bonuses.

02:00Owners slash Shareholders

02:02Example

02:03Shareholders of a public company like Apple expect the company to perform well

02:07so the value of their shares increases.

02:10They are interested in the company's profitability and growth prospects.

02:15Customers

02:16Example

02:17Customers of a restaurant expect good food and service.

02:21If they are satisfied, they will return and recommend the place to others,

02:26positively affecting the restaurant's revenue.

02:29Suppliers

02:30Example

02:31A car manufacturer relies on suppliers for parts like engines and tires.

02:36Suppliers want to ensure that the manufacturer pays them on time and continues to place orders.

02:43Investors

02:44Example

02:45Venture capitalists who invest in a startup expect significant returns on their investment

02:51as the company grows and becomes profitable.

02:54Creditors

02:55Example

02:56Banks that provide loans to businesses expect regular repayments with interest.

03:02If the business struggles, it may affect the bank's financial health.

03:06Government

03:07Example

03:09Governments impose regulations on companies,

03:12such as environmental standards for a chemical plant.

03:15The plant must comply to avoid fines and legal issues.

03:19Community

03:20Example

03:21A manufacturing plant in a small town provides jobs to the local community.

03:26However, if it causes pollution,

03:29the community will be concerned about health and environmental impacts.

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