What is a Stake? - meaning of 'stake'
A Stake is an interest in or a share in an undertaking (Bucholtz and Carroll, p.63).
Stakeholders are people who hold a stake in a decision or undertaking. As Bucholtz and Carroll (2008)
explain to understand the concept of a stakeholder it helps to know what a stake is, and what type of stake a stakeholder might have.
A stake can simply mean having an interest in a decision, for example "how will the road by pass affect me?" on the other hand it could be a legal claim for example a shareholder has a stake through their part or full ownership of a business.
Bucholtz and Carroll (2008)
explain that between these two extremes a stake can also be a 'right'. A right can be a moral right for example an ethical principle or a feeling about fairness in a particular situation – "it is only fair to check with a neighbour before starting building work" or a legal right for example a right under law for employees to be treated equally regardless of gender, religion etc.
A few examples of stakes
- Households under the flight path of a proposed runway
- People living close to a construction site or proposed business
- A Citizen's interest in a national issue, for example UK citizens' interest in EU negotiations.
- Moral right
- Respectful treatment
- A sense of fairness, for example 'it is only fair to keep the noise down after 11pm'
- It is only fair for an employer to consider the impact of a change on their employees
- In the UK there is a moral right for an author of a work to be attributed
A legal claim
- Legal right
- Maternity rights
- Right to legal advice if arrested
- Consumer rights when you buy goods and services
- Rights under the Data Protection Act
- A partner with legal rights to benefits or pensions
- A right to trial
- Employees rights to a safe workplace
- Shareholders fiduciary rights
What is a Stake? References
Bucholtz, A. K. and Carroll, A. B. 2012. Business and Society , Ethics and Stakeholder Management
. 8th edition. South-Western. Cengage Learning. Latest edition
Gov.uk. 2016. Crime Justice and the Law. Your rights and the law. [online] Available at:https://www.gov.uk/browse/justice/rights
[Accessed 10 February 2016].
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