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Which of the following best describes the term 'stakeholders' in a business cont

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Question: Which of the following best describes the term \'stakeholders\' in a business context?

Options:

  1. Only the employees of a company
  2. Individuals or groups affected by the company\'s actions
  3. Only the shareholders of a company
  4. The government and regulatory bodies only

Correct Answer: Individuals or groups affected by the company\'s actions

Solution: 

Stakeholders are individuals or groups that are affected by or can affect a company\'s actions, including employees, customers, suppliers, and the community.

Which of the following best describes the term 'stakeholders' in a business cont

Practice Questions

Q1
Which of the following best describes the term 'stakeholders' in a business context?
  1. Only the employees of a company
  2. Individuals or groups affected by the company's actions
  3. Only the shareholders of a company
  4. The government and regulatory bodies only

Questions & Step-by-Step Solutions

Which of the following best describes the term 'stakeholders' in a business context?
  • Step 1: Understand that 'stakeholders' are people or groups related to a business.
  • Step 2: Identify who can be affected by the business, like employees and customers.
  • Step 3: Recognize that stakeholders can also include those who can influence the business, like suppliers and the community.
  • Step 4: Conclude that stakeholders are important because they have a stake in the company's success or failure.
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