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A stakeholder is a person, group or organization that has interest or concern in an organization.
Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.
Not all stakeholders are equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees.
The needs and desires of the stakeholders are very important. Before designing a new system, it is crucial to determine exactly what the client’s requirements are. There are several ways/methods of obtaining these requirements. Who will be affected by the new system? • Who will the new system affect? • Who will the end-users be? • What are their needs?
When designing a new system, we usually try to design it for the greatest good for the greatest number of people. This is approach is called utilitarianism.