ACCA Strategic Business Leader (SBL) Practice Exam

What is a stakeholder?

1. A person who only owns shares in a company

2. Anyone who can influence or be influenced by an organization

3. A specific group of investors in a corporation

4. An employee of a company with managerial responsibilities

The correct answer is: Anyone who can influence or be influenced by an organization

A stakeholder is best defined as anyone who can influence or be influenced by an organization. This definition encompasses a wide range of individuals and groups that have an interest in the performance and activities of the organization. Stakeholders can include shareholders, employees, customers, suppliers, government entities, and the community at large. Their interests can vary significantly; for instance, employees may be concerned about job security, while customers might focus on product quality and service. The broad nature of this definition highlights the importance of understanding stakeholder relationships in strategic business management. Organizations must recognize that their actions can impact various stakeholders, and conversely, these stakeholders can significantly affect the organization’s strategic decisions and overall success. In contrast to this comprehensive understanding, the other options present narrower or inaccurate definitions. For example, defining a stakeholder solely as a person who owns shares in a company limits the concept to shareholders, overlooking other vital groups involved in or affected by the organization's operations. Similarly, restricting the definition to a specific group of investors or only managerial employees overlooks the diverse array of individuals and entities that can have a stake in an organization's success or failure. Thus, the correct answer reflects the inclusive and multifaceted nature of stakeholders in the context of business strategy.