Stakeholders can either be internal or external. Internal stakeholders include employees, shareholders, and managers whilst external stakeholders are parties that do not have a direct relationship with the company but may be affected by the actions of that company, they include the suppliers, community groups and consumers. Traditionally, companies were answerable to their shareholders. Today, aside from shareholders, the company is also answerable to many other constituents in the business environment. Here are some quotes on shareholders and stakeholders.
“If your ego starts out, ‘I am important, I am big, I am special’, you’re in for some disappointments when you look around at what we’ve discovered about the universe.” - Neil deGrasse Tyson
“We need to do right by all our stakeholders, and that’s how you create value for shareholders. And one thing is for sure – no organisation can succeed in a world that is failing.” - Don Tapscott
“My goal in the new administration is to engage all of the stakeholders, everyone who can help us meet the challenges of the 21st century, and ensure that we work together.” - Valerie Jarrett
“Companies, to date, have often used the excuse that they are only beholden to their shareholders, but we need shareholders to think of themselves as stakeholders in the wellbeing of society as well.” - Simon Mainwaring
“Effective change communication is at the heart of successful change, it acts like the blood in our bodies, but instead of supplying vital oxygen and nutrients, communication supplies information and motivation to the impacted stakeholders” - Peter F Gallagher
“Trying to change company culture or to get a team to go along with a tough reorganization? Rather than taking a predetermined plan and pushing it on people, catalysts do the opposite. They start by asking questions. Visiting with stakeholders, getting their perspectives, and engaging them in the planning process.” - Jonah Berger
“When you spend more time talking to “internal stakeholders” than your customers, you’ve lost the ship.” - David Cancel
“It does not matter whether your company does have a good logo or bad logo. What matters most is the way you position your company before your stakeholders. The more you see a logo, the more you like it and you talk about it” - Anoop Raghav
“The ultimate test of agility is whether you can keep all your stakeholders happy.” - Jurgen Appelo
“The ability to establish, grow, extend, and restore trust with all stakeholders—customers, business partners, investors, and coworkers—is the key leadership competency of the new global economy.” - Stephen M.R. Covey
“Conscious businesses believe that creating value for all their stakeholders is intrinsic to the success of their business, and they consider both communities and the environment to be important stakeholders. Creating value for these stakeholders is thus an organic part of the business philosophy and operating model of a conscious business.” - John E. Mackey
“That’s the primary difference between mission and purpose—the former is self-centered and the latter is stakeholder-centric.” - Russ Stoddard
“The basic task of leadership is to increase the standard of living and the quality of life for all stakeholders.” - Stephen R. Covey
Published in English daily The Star, Malaysia, 9 May 2015
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