Did you
know?
stakeholder
noun
- one who has a share or interest, as in an enterprise
- one who holds the bets in a game or contest
(The American Heritage® Dictionary of the English Language: Fourth Edition)
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WORD ORIGIN
Stakeholder is a compound noun composed of "stake" (an interest or share) and "holder" (in this context someone who owns or keeps something). The word has different definitions depending on the corresponding field or profession:
general business - A person, group, or organisation that has direct or indirect stake in an organisation because it can affect or be affected by the organisation’s actions, objectives, and policies. Key stakeholders in a business organisation include creditors, customers, directors, employees, government, owners, suppliers, unions, and the community from which the business draws its resources. (www.businessdictionary.com)
finance - Any party that has an interest in an organisation. Stakeholders of a company include stockholders, bondholders, customers, suppliers, employees, and so forth. (Wall Street Words, published by Houghton Mifflin Company)
process management - People who will be affected by a project or can influence it but who are not directly involved with doing the project work. Examples are managers affected by the project, process owners, people who work with the process under study, internal departments that support the process, customers, suppliers, and financial departments. (SixSigma)
law - A third party chosen by two or more persons to keep in deposit property or money the right or possession of which is contested between them, and to be delivered to the one who shall establish his right to it. (Law Dictionary)
gambling - A third party, independent person who safeguards (holds) the stakes (money) in a wager or bet.
Stakeholder is sometimes used interchangeably with shareholder (synonymous with stockholder), although the definition of shareholder is restricted to someone who owns stock in a company.
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SMUGGLE OWAD INTO TODAY'S CONVERSATION:
"When taking important decisions keep the interests of our stakeholders in mind."