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The term "stakeholders" appears to have invited in the early 60's as a deliberate play on the word "stakeholder" to signify that there are other parties having a "stake" in the decision. A stakeholder in an organization is (by definition) any group or individual who can affect or is affected by the achievement of the organization's objectives. (R.Edward Freeman, 46). To understand the meaning of stakeholders, the word stake is also equally important. A stake is an interest of a person or the sharing an understanding. If a group of people is doing a particular job then they should have a stake, or interest in the group's decision. For an example if a group of people are going out for a dinner then each of the group members should have a stake and interest. In this situation the member sees for their own interest (priority, taste, preference) in the...

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