ACTG 2010 Lecture Notes - Lecture 3: Stakeholder Management, Strategic Management, Fiduciary
12 Jul 2016
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An interest or a share in an undertaking. An interest a share in something, a claim, a demand for something due or believed to be due ex: if a group decides to go out for dinner, each person has a stake in that decision. A right legal (justified and grounded in the law) or moral (justified and grounded in moral principles) rights. An ownership grounded in the claim of ownership. Any individual or group who can affect or is affected by the actions, decisions, policies, practices or goals of the organization. Primary nonsocial stakeholder have a direct stake in the organization, are the most influential: natural environment, future generations, non-human species. May be influential; but their stake in the organization is more indirect: environmental interest groups, animal welfare organizations. Primary social stakeholder have a direct stake in the organization, are the most influential: shareholders and investors, employees and managers, customers, local communities, suppliers and other business partners.
