MGT 488 Week 1, DQ 2

Who are stakeholders?

Stakeholders are the individuals & groups who can affect the vision & mission of the firm, are affected by the strategic outcomes achieved, & have enforceable claims on a firms performance (Hitt, Ireland, & Hoskisson,2009,p.20).

Hitt, Ireland, & Hoskisson (2009) state that, stakeholders can be separated into three groups: Capital Market Stakeholders who consist of shareholders & major suppliers of a firms capital; Product Market Stakeholders who are the firms primary customers, suppliers, host communities, & unions representing the workforce; & Organizational Stakeholders who are all of a firms employees, including both non managerial & managerial personnel(p.21).

How do stakeholders influence strategic...