Final answer:
Companies have formal processes for the general public to submit ideas, which enhances engagement and innovation. Stakeholders include customers, government agencies, other companies, and individuals who have an interest in the product. Involving stakeholders ensures broad support and successful implementation of projects.
Step-by-step explanation:
The passage from Chapter 12 refers to the growing number of companies that have formal processes in place for the general public to submit ideas. This practice aligns with the ideals of the Maker Movement and encourages innovation and customer engagement. In business, it's essential to understand the needs and ideas of customers and stakeholders to develop successful products and services. The concept of stakeholders is broad and includes not just customers who use and pay for the product, but also entities such as government agencies, other companies, and individuals who have an interest in the product. For example, stakeholders in an automobile design might include buyers, mechanics, the Environmental Protection Agency, and oil companies. Inclusion of these various stakeholders ensures a wide range of input and support, contributing to the overall success and practical implementation of any design project or business venture.