Anyone who can affect or is affected by an organization’s actions is a stakeholder. The group includes shareholders, employees, customers, suppliers, regulators, local communities, and sometimes the environment or future generations. Stakeholder theory argues that managers should consider the interests of this broader set rather than focusing solely on shareholders.

Identifying stakeholders and understanding their interests and influence is a practical first step in strategy and in project management. Engagement ranges from simple information sharing to deep collaboration. Conflicts among stakeholder groups are common; balancing them is part of the managerial task.

In recent years many companies have formally acknowledged a wider set of stakeholders in their purpose statements and reporting. The shift reflects both ethical considerations and the recognition that long-term value depends on healthy relationships with more than just owners of capital. Mapping and managing stakeholders remains a core skill in complex organizations.