Stakeholders are the people or parties who have an interest in the company and they can affect business activities. Stakeholders can be internal or external. Internal stakeholders are those people who have a direct interest within the company such as employees working on management level, designers and manufacturer workers, marketing and salespeople, assembly workers, etc.
External stakeholders, on the other hand, people who are in indirect relation with the organization like suppliers, distributors, or creditors. They may not affect directly by the company but the company’s actions and performance somehow affect them.
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Plot the position of the following companies on Figure 8.3
Develop an improved J. Crew mission statement