Corporate stakeholders are a party that can affect or be affected by the actions of the business as a whole. The term has been broadened to include anyone who has an interest in a matter. A stakeholder is any person or organization, who can be positively or negatively impacted by, or cause an impact on the actions of a company, government, or organization.
The stakeholder concept was first used in a 1963 internal memorandum at the Stanford Research institute. It defined stakeholders as The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR).
Types of stakeholders are:
: are those ultimately affected, either positively or negatively by an organization's actions.
: are the ‘intermediaries’, that is, persons or organizations who are indirectly affected by an organization's actions.
: (who can also belong to the first two groups) have significant influence upon or importance within an organization.