What is a stakeholder?
A stakeholder is any individual, group or entity that has an interest or concern in the outcomes of a company — shareholders, employees, customers, suppliers, lenders, regulators, partners, communities, and the broader public. Stakeholders may be primary (directly affected) or secondary (indirectly affected).
Stakeholder theory contrasts with shareholder primacy and is reflected in benefit-corporation statutes, ESG reporting frameworks (CSRD, SASB, GRI) and corporate-purpose movements. Effective stakeholder engagement is critical to social licence to operate.