Final answer:
Stakeholders can include a wide range of internal and external parties interested in or affected by a company's operations, thus they can be both internal and external.
Step-by-step explanation:
Stakeholders in a business context are defined as any persons or organizations who have an interest in the operations of a company. These can range from individuals who invest directly in the company to those who are affected by the company's practices and decisions. Therefore, stakeholders may include a variety of internal and external parties such as employees, customers, suppliers, community members, government officials, and many others.
Based on this understanding, when considering if stakeholders are either internal only, external only, or both internal and external, the correct answer is that stakeholders can be c) both internal and external.