Please critique my answer to the question, thank you! Q: Explain the concepts of

Question

Please critique my answer to the question, thank you!

Q: Explain the concepts of stake and stakeholder from your perspective as an individual. What kinds of stakes and stakeholders do you have? Discuss in some details, please.

A: A stake is an undertaking that someone has financial or vested interest in. A stakeholder is one who is in some way connected to the input or output of a firm. It could be an investor, employee, or consumer. I worked at Academy at one point and I had a 401k set up with them. So in order to actually have money matched with that in which I invested, the company has to be running as well as turning a profit. So I had a stake in the company with my 401k and I am a stakeholder in the company since I work there and attribute to it. Another example would be me owning stock in various companies. A stockholder is a variance of a stakeholder.

Explanation / Answer

The answer is very well explained with good examples. However few more details can be added to the answer such as:-

Internal stakeholders are the management team and employees of the organisation.

External stakeholders are the suppliers, retailers and customers.

Apart from the type of stakeholders, few more detailed examples can be added to make the discussion more interesting.

For Example:- Students are also stakeholders! Some people may not agree to this but yes students are also stakeholders in a school. Imagine a school/coaching classes/online tutorials without students. Education sector is flourishing worldwide and the most important reason behind it are the students accross the globe!

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.