Which statement is correct in relation to Stakeholders?

The correct statement in relation to stakeholders is that they can be internal and external. In the context of business change practices, stakeholders encompass a broad range of individuals and groups who have an interest in or are affected by a project, program, or organizational change. Internal stakeholders include team members, employees, managers, and executives within the organization, who may directly contribute to or be impacted by the outcomes of a project. External stakeholders can be customers, suppliers, investors, regulatory bodies, and the wider community, all of whom may also have a vested interest in the project's success or failure.

Recognizing that stakeholders can be both internal and external is crucial for understanding the full scope of impact, influence, and the necessary communication strategies that should be employed throughout a project. This perspective helps ensure that the needs and expectations of all relevant parties are considered, which can lead to better project outcomes and stakeholder satisfaction.