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Definition
Stakeholder is defined as an individual, a group, an organization, or a spokesperson who has a claim or a stake or something at stake in a business behavior, performance, and outcome. There is a difference between having an interest in a business and having a stake in a business, where the latter is related to the term “stakeholder,” because having an interest is not necessarily the same as having a stake or something at stake. The latter involves holding a risk– being in a position having a legitimate claim on the behavior, performance, and outcome of the business – and how the business matters to the ones having a stake in the business. A stakeholder bears the risk that is involved with business actions and outcomes. To be a stakeholder means to have an interest which takes much effort to dissociate from the actions and outcomes of the business if the stakeholder is not satisfied with them. An interest can...
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References and Readings
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Lauesen, L.M. (2013). Primary Stakeholders. In: Idowu, S.O., Capaldi, N., Zu, L., Gupta, A.D. (eds) Encyclopedia of Corporate Social Responsibility. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-28036-8_140
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DOI: https://doi.org/10.1007/978-3-642-28036-8_140
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