This report is a professional discussion paper analyzing the relationships and influence of internal and external stakeholders on a business. It delves into how businesses, specifically referencing Marks and Spencer, engage with these stakeholders, including owners, employees, managers, customers, suppliers, local communities, and governments, and assesses the benefits of such engagement. The paper examines the impact of both internal factors (employees, owners, managers) and external factors (customers, suppliers, local community, government) on business operations. It emphasizes the importance of stakeholder involvement for effective business functioning and highlights the benefits of understanding stakeholder requirements. The conclusion underscores the significance of analyzing both internal and external factors for risk management and the overall success of the company. The report includes references to academic sources supporting the analysis.
![[object Object]](/_next/static/media/star-bottom.7253800d.svg)
