Stakeholders are individuals, groups, or organisations that are influenced or are influenced by the decisions and activities of a business. In GCSE Business, stakeholders typically include internal parties such as employees and management, as well as external groups like customers, suppliers, shareholders, government agencies, and the local community.
Understanding stakeholders is crucial, as their needs and objectives can greatly affect business strategy and decision-making processes. Recognising their different interests helps to ensure business success and sustainability.
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