Answer to Question #79010 in Finance for Owen Marsden

Question

Who are the stakeholders with whom a business should consult and what is the value of consultation and the involvement of stakeholders

Answer 1

Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.
Not all stakeholders are equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees.
Source:
https://www.businessdictionary.com/definition/stakeholder.html