Who are the key stakeholders

Stakeholders are people who may be affected by or have an effect on an effort. They may also include people who have a strong interest in their business. Stakeholders are generally said to have an interest in an effort or organization based on whether they can affect or be affected by it. The more they stand to benefit or lose by it, the stronger their interest is likely to be. The more heavily involved they are in the effort or organization, the stronger their interest as well.

Owners who are interested in how much profit the business makes. Managers who are concerned about their salary. Workers who want to earn high wages and keep their jobs. Customers who want the business to produce quality products at reasonable prices. Suppliers who want the business to continue to buy their products. Lenders who want to be repaid on time and in full.

Why are they important

Owners have a big say in how the aims of the business are decided, but other groups also have an influence over decision making.

Less influential stakeholders are called secondary stakeholders.