The difference between internal and external stakeholders. Introduction: Internal and external stakeholders Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business. Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function. External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

give brief peer-reviewed example of a single-supplier and multiple supplier sourcing strategy from within 2019-2024

Referencing the scenario provided, and following the guidance provided by theStrategic consultant, Joy and her team are now prepared to proceed with finalizing their businessplan to launch their company. Considering how competitive the business sector is today, it isimportant that they are aware of their alternative organizational strategies. It is also important thatthey understand how to develop a sustainable competitive advantage, so as to remain financiallyviable. The group is considering utilizing the strategy formulation framework to aid in developingthe company and its products. Further to discussion with the Strategic Consultant, Joy is awarethat there are certain habits that strategic leaders must encompass but is not sure what they are. your group is to assume the role ofJ oy and her team. In doing so, you areexpected to complete the following: Given the event planning and gifts for all occassions which your business proposes to offer, assess the threestages of the…

Relever les défis de la gestion des ressources humaines, 6e édition (Chapitre 7, page 256) Auteur(s) Sylvie St-Onge, Victor Haines, Sylvie Guerrero, Julie Dextras-Gauthier

Answer 2

Question

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Answer 6

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Answer 7

Chapter 3, Problem 1UTC

Summary Introduction

To determine:

The difference between internal and external stakeholders.

Introduction:

Internal and external stakeholders

Every organization has stakeholders that can be classified as internal stakeholders and external stakeholders. Internal stakeholders are individuals or parties within the organization. Whereas, external stakeholders are individuals or parties that are outside the organization, which affect the business.

Internal stakeholders are also called primary stakeholders that provide direct services to the company. They are those parties that get directly affected by the business. They can influence and get influenced by the success and failure of the business. Without internal stakeholders the company will not be able to function.

External stakeholders are also called secondary stakeholders that do not participate in the day to day business of the organization. They are those parties that deal with the company externally without interfering in the business affairs and do not get directly affected by the business. They are not involved directly in the decision making.

Answer 8

Expert Solution & Answer

Answer to Problem 1UTC

Solution:

Every company is a combination of both internal and external stakeholders. Internal stakeholders are involved in the company’s activities and have the influence to make the important decisions. However, external stakeholders are not involved in the company’s activities and have no influence to make business decisions.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Given Information:

How would you explain the difference between internal and external stakeholders?

Differences between internal and external stakeholders are:

Internal stakeholders are the individuals or parties employed by the organization that actively participates in the management of the company. Whereas, external stakeholders are the individual or partiesnot employed by the organization and they do not participate in the activities of the company.
Internal stakeholders are involved in the day to day business of the company, whereas external shareholders deals with the company only externally.
Internal stakeholders have a larger influence on the functioning of a company than external stakeholders.
Internal stakeholder are called primary stakeholders that includesmanagers, employees, owners, board of directors, etc. whereas external stakeholders are called secondary stakeholders that includes society, government, suppliers, customers, etc.
Internal stakeholders are employees of the company, whereas external stakeholders are not employees.
Internal stakeholders have knowledge about the internal matters of a company, whereas external stakeholders have no idea about them.
The activities of a company directly influence the internal stakeholders, whereas such activities do not directly influence theexternal stakeholders.

Answer 12

Ch. 3 - Prob. 1UTC Ch. 3 - Prob. 2UTC Ch. 3 - Prob. 3UTC Ch. 3 - Prob. 4UTC Ch. 3 - Prob. 5UTC Ch. 3 - Prob. 6UTC Ch. 3 - Prob. 7UTC Ch. 3 - Prob. 8UTC Ch. 3 - Prob. 9UTC Ch. 3 - Prob. 10UTC

Answer to Problem 1UTC

Explanation of Solution

Want to see more full solutions like this?

Chapter 3 Solutions