External stakeholders are people or groups outside the business, including customers, users, suppliers, and investors. They have varied interests but don’t work for the project manager. Their support or opposition can be vital since they might influence the project’s outcome. Internal stakeholders, like team members and executives, contrast with external stakeholders by being part of the business.
External Stakeholders in the Supply Chain
Who are the external stakeholders in the supply chain?
Important external stakeholders in the supply chain include shareholders, suppliers, lower-tier manufacturers, and couriers. Without them, organizations couldn’t source materials or manage logistics. Banks, the local community, and the media also play a role as stakeholders, influencing success and public perception.
Media’s Role as an External Stakeholder
Is the media an external stakeholder?
The media is an external stakeholder, significantly affecting a brand’s customer base through various platforms. It’s crucial for PR to manage media relationships effectively, ensuring positive coverage and leveraging it for brand advantage. Governments, activists, and think tanks are also highlighted as key external stakeholders, impacting business operations and public image.
Employment Status of Stakeholders
Can employees be external stakeholders?
Employees are internal stakeholders, whereas external stakeholders lack a direct tie to the company. They include government entities, local communities, and other businesses that are impacted by the company’s actions indirectly. Despite not having direct control, their interests and opinions can significantly influence business directions and community relations.
Examples of External Stakeholders
What are 4 examples of external stakeholders?
Examples of external stakeholders are:
- customers
- suppliers
- government agencies
- creditors
- labor unions
- community groups
They are considered secondary stakeholders, affected indirectly by a company’s decisions and outcomes across various industries and projects, including healthcare and legal processes.