Stakeholder involvement in business management has taken a dramatic turn in recent years in that its influence on managing business activities and project cannot be overlooked. Any individual or groups who have an interest in the organization’s activities is considered to be a stakeholder. A stakeholder is typically concerned with an organization delivering intended results and meeting its financial objectives. In general, stakeholders are classified as internal, external or connected depending on position relative to the organization. It is extremely important to identify and balance the demands of these stakeholder groups and to act responsibly to all of them in order to maintain and achieve an effective relationship with the business’s success and community satisfaction.
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