Stakeholders are the individuals that are affected by business activity and are interested in it. A business has internal and external stakeholders. Internal stakeholders are the people or groups who work directly in a business, e.g employees, owners and investors etc. External stakeholders are the individuals or groups that are not a direct part of the business but are somehow affected by it. Example of external stakeholders are suppliers, society, government, shareholders, creditors and costumers.
Tag: Business Development.
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Objectives of a Business and their importance.
Business objectives are the set aims and goals of a business. A business is always set up in order to gain profit. If a business is successful in gaining profit, it is considered a successful one. Productivity is also a major objective of a business, which includes employee training, equipment maintenance and new equipment purchases. Once established, growth, marketing, brand establishment, costumer loyalty and core values are the other significant feature of a business.