External Stakeholders

External stakeholders are individuals, organizations, or groups that have an interest in or are affected by the outcomes of a company or organization’s activities, but are not part of the company. External stakeholders include customers, suppliers, competitors, governments, regulatory and legal bodies, communities, and non-governmental organizations (NGOs).

Customers are an important group of external stakeholders who are key to a company's success. They are interested in receiving high-quality, reliable products and services at a reasonable price. They also care about the company's reputation and image, and may be influenced by social responsibility and ethical practices.

Suppliers are also important external stakeholders who provide the resources and materials necessary for a company's operations. They are interested in maintaining long-term relationships with the company and receiving fair and equitable treatment.

Competitors are an external stakeholder group that is interested in the activities and performance of the company. They are interested in the company's products or services, marketing strategies, and pricing policies.

Governments and regulatory bodies are external stakeholders that enforce laws and regulations that affect the operations of the company. They are interested in ensuring that the company complies with legal and regulatory requirements, and may also be interested in promoting economic growth and community development.

Communities are external stakeholders who are interested in the company's impact on the local area. They may be interested in employment opportunities, environmental impact, and corporate social responsibility activities.

NGOs are external stakeholders who are interested in promoting social and environmental causes. They may be interested in the company's impact on the environment, human rights, and social justice.

In summary, external stakeholders are an important group of individuals, organizations, or groups that have a vested interest in a company's activities and outcomes. Understanding their perspectives and concerns can help companies to develop successful relationships and strategies that benefit both the company and its stakeholders.