Stakeholders
Stakeholders are individuals or groups with interest in firm decisions and outcomes. They include shareholders (owners), workers (income, conditions), customers (price, quality), suppliers (contracts, payment), and local communities (employment, environment).
Real World
When Tata Steel closed its Redcar plant in 2015, workers lost jobs, local businesses lost customers, and the community lost its largest employer — showing how one firm decision affects multiple stakeholders differently.
Exam Focus
Identify conflicting stakeholder interests and evaluate which group is most affected to reach top-band analysis.
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