Final answer:
In business, a stakeholder is an individual or group that is influenced by or can influence the company's purpose. They are distinct from shareholders, who are stakeholders with a financial investment. Stakeholders encompass a wide range of entities with different interests in the company's operations.
Step-by-step explanation:
In the context of business, a stakeholder is c) An individual or group influencing and/or influenced by the organization's purpose. Stakeholders are crucial to a business as they are either affected by or can affect the company's actions, objectives, and policies. This includes a wide array of entities such as employees, customers, shareholders, and suppliers, as well as the community in which the company operates. Stakeholders can have a variety of interests in the business, spanning from financial gains to social and environmental impacts.
It's important to differentiate between stakeholders and shareholders. While all shareholders are stakeholders, not all stakeholders are shareholders. Shareholders are individuals or entities that own part of a corporation through shares, and they are primarily interested in the financial return on their investment. In contrast, stakeholders encompass a broader group concerned with various aspects of the company's operations and outcomes.
Understanding the role and interests of stakeholders is essential for businesses to operate successfully and responsibly. Considering the diverse range of stakeholders and their potential influences on the business is vital for effective management and strategic decision-making.