Interested Parties, or stakeholders, are any person, group, or entity that may be affected by a decision or change within an organisation.
Interested parties may be found within the organisation, like employees, or external to the organisation, like customers. They may include suppliers, government regulators, the media, trade unions, and lobby groups.
It should be noted that interested parties play a significant role in business continuity planning and crisis management, as they can influence management outcomes considerably. In many respects, the success of an organisation's response to a crisis depends on how well its expectations are managed or satisfied during that time.
Using a retail chain as an illustration, internal interested parties could comprise sales staff on the shop floor, product buyers who purchase goods from suppliers, the marketing team that plans promotions and designs advertisements, and the warehousing and delivery teams that fulfil customer purchases. External interested parties could be customers, suppliers, the building management of the mall the store is located in, and financial institutions that accept and process customer credit payments.
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