Stakeholder: 1. The difference between these two statements precisely defines the contrast between a stakeholder and a shareholder value view of the functions of a business organisation. A shareholder is a person, who has invested money in the business by purchasing shares of the concerned enterprise. The stakeholder theory suggests that the purpose of business is to create value for all stakeholders, including customers, suppliers, employees, communities and shareholders. This framework emphasizes a business's social, legal, political, and ethical responsibilities to both external and internal groups that have a stake, or interest, in that business. It is a fundamental goal of the course that students really get that responsible business decision makers strive to balance and protect the … 2. Stakeholder theory deals with discussions on if a business has a greater responsibility towards these stakeholders than towards the shareholders, and how to fulfill these responsibilities. Other sources include a popular textbook on the topic, “Business and Society: Ethics, Sustainability, and Stakeholder Management,” by Archie B. Carroll and Ann K. Buchholz, first published in 2014. External stakeholders are groups outside a business or people who don’t work inside the business but are affected in some way by the decisions and actions of the business. All shareholders can be considered as stakeholders. Thus, stakeholders can be internal or external to the business. True; False; 5. In business, a stakeholder is any individual, group, or party that has an interest in an organization and the outcomes of its actions. Examples of external stakeholders are customers, suppliers, creditors, the local community, society, and the government. A stakeholder is any person, organization, social group, or society at large that has a stake in the business. Business exists to serve society. Stakeholder Analysis – Business Society & Ethics November 25, 2020 / in Business and Finance Assignment Help / by Joseph. Stakeholder, any individual, social group, or actor who possesses an interest, a legal obligation, a moral right, or other concern in the decisions or outcomes of an organization, typically a business firm, corporation, or government.Stakeholders either affect or are affected by the achievement of an organization’s objectives. BUSINESS AND SOCIETY employs a stakeholder management framework. External Stakeholders. Examples of external stakeholders are customers, suppliers, creditors, the local community, society, and the government. As a student of an online course about how business can create value for society; As an employee; As an investor; 4. Over the past several decades, one of the great discussions within capitalism has centered on defining exactly what a business is and what its obligations are to society at large and to the many stakeholders participating in business systems, including customers, shareholders, employees, suppliers, and communities, to name a few. Throughout the last 6 months, the scandal that has plagued Wells Fargo bank has been unfolding. A stakeholder is someone who has a vested interest in an organization and its activities and are affected by the activities of the organization. A stake is a vital interest in the business or its activities. External stakeholders are groups outside a business or people who don’t work inside the business but are affected in some way by the decisions and actions of the business. External Stakeholders.