Who is referred to as an individual, group, or organization with an interest in the activities of a business?

• A. Competitor
• B. Stakeholder
• C. Consumer
• D. Supplier

Answer: (B)

The term that refers to an individual, group, or organization with an interest in the activities of a business is a stakeholder. Stakeholders can include a diverse range of entities that are affected by or can affect the operations and performance of the business. This includes employees, customers, investors, suppliers, the community, and even government agencies. Stakeholders often have varying degrees of influence and interest in the business’s decisions and outcomes, making their role crucial in understanding how a business functions within its environment.

In contrast, other options highlight more specific roles. A competitor refers to another business offering similar products or services and does not typically have a vested interest in the activities of a specific business. A consumer is a person who purchases goods or services for personal use, focused mainly on their needs rather than broader business activities. A supplier provides goods or services to a business, and while they have a vested interest in their relationship with the business, their concern is typically limited to transactions rather than the broader activities of the business itself. Thus, the term stakeholder encompasses all these groups and more, making it the correct answer.