Ed Freeman Famously Defined a Stakeholder as "Any Group or Individual

question 39

Essay

Ed Freeman famously defined a stakeholder as "any group or individual who can affect or is affected by the achievement of the organization's objectives." Discuss the strengths and weaknesses of this definition, providing examples to support your argument.

---

Definitions:

Customer Objective

Customer objective involves defining what a business aims to achieve in relation to its customers, such as increasing customer satisfaction, loyalty, or retention rates.

Marketing Budget Allocations

The distribution of financial resources among various marketing activities or channels.

Past Sales

Past sales refer to the historical record of a product's or company's sales volume over a designated period, used for trend analysis, forecasting, and strategic planning.

Profits_

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.