There are three categories of stakeholders in an organization. The internal stakeholders, immediate external stakeholders and other external stakeholders.
Internal stakeholders
This includes the Chief Executive Officer (CEO) or the manager director (MD) or president, the board of directors or board of Management, non-executive directors representing shareholders, family, or trust members who work with the organization; or elected representatives.
This group of internal stakeholders are or proprietors; or act on behalf of the owners; or act as stewards of interests and investments of the owners or providers of funds as primary beneficiaries or representatives. The other shareholders in this category include managers or officials, and employees or their representatives.
Immediate external stakeholders
His category of stakeholders includes customers or clients who are main users or recipient of goods and services provided by the organization. This category also includes those stakeholders with a very close and valuable relationship with the organization. This includes individuals and institutional investors, banks, creditors, and other sources which provide finance to the organization.
Distributors and business channels who sell the organizations products and services, suppliers who supply goods and services as input to the organization, customer or consumer representatives who use the products and services produced by the organization, trade unions, employers’ organizations and chamber of commerce.
Other stakeholders.
This includes professional bodies, government regulatory organizations, special interest or pressure groups, the wider community within which the organization operates. Elected officials of representatives at local, regional, and central organizations who are able to influence the broad processes of regulation and legislations.
It is important for organizations to recognize its’ stakeholders, the importance of their roles towards its existence as an organization. Then make sure it’s relationship between them are healthy.
