External stakeholders | Meaning and Definition

What is the meaning of stakeholders?

There are stakeholders involved in the company who will be interested in products produced by the company or even the company’s business. There are two types of stakeholders involved in the company’s business, and they are called external and internal stakeholders. Internal stakeholders are the ones who are mostly interested in the financial conditions and decisions of the company. They are more inclined towards the financial department of the organization.

What is the meaning of External Stakeholders?

External stakeholders are the ones who are indirectly involved in the business of the company. They are the ones who are not involved and don’t show any interest in the company’s financial decisions, operations, or any other decision-making actions. They can be individuals or a group who are interested and get affected by the outcomes of the decisions and business of the company. External stakeholders are just interested in success or failure or how the outcome of the business is proceeding.

Examples of External Stakeholders:

  •   Consultants
  •   Associations
  •   Vendors
  •   Government Regulatory
  •   Action Group of Citizens
  •   Not-for-profit groups
  •   Trade Unions
  •   Celebrities