Tuesday 7 September 2010

Marketing vocabulary of the week: 'stakeholders'

A stakeholder is an individual or group with an interest in an organisation’s activities, and who is affected by the behaviour of an organisation. We often refer to primary stakeholders (stakeholders who are vital to the organisation, without whom the organisation couldn’t survive) and secondary stakeholders (stakeholders that an organisation can survive without at the moment, to a certain extent). We also make a distinction between internal stakeholders (for example, employees or management) and external stakeholders (for example, customers or suppliers).

Example usage (extract from a job advert for a Marketing Executive):

"In this role, you will be responsible for building relationships and liaising with a range of stakeholders, both internal and external."

(Taken from Cambridge English for Marketing, Unit 1 [The role of marketing])

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