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Explain what a stakeholder is?

Updated: 9/14/2023
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13y ago

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A Stakeholder is any person who is either directly or indirectly effected by a corporation. Some exampls, stockholders, the community, government, activist groups, employees, etc.

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Difference between customer and stakeholder?

stakeholder customer


How a stakeholder differs from a customer?

A stakeholder is a person or an organisation who has a 'stake' in the company. Shareholders are stakeholders. Other examples include: suppliers, banks and even government. Customers are usually considered as a kind of stakeholder.


Can an external stakeholder be considered a primary stakeholder?

It depends on the situation but in most cases, the answer is Yes. For ex: if your company is executing a project to create a website for my company, I am a stakeholder of the project but i am external to your company. I dont work in your company, but the success or failure of your project has a direct impact on me. Hence I am a primary stakeholder even though I am external.


What are the function of a stakeholder in a business organization?

ggl


Explain what a stakeholder is Identify the different types of stakeholders?

There are many definitions of a stakeholder, but the most accepted one is from Strategic Management: A Stakeholder Approach (1984) by R. Edward Freeman: 'any group or individual who can affect or is affected by the achievement of the organization's objectives' (1984: 46).' There are as many ways of categorising stakeholders into types as there are definitions of stakeholders. My preferred method is to Eden and Akermann's Power/Interest matrix. This is a grid that separates stakeholders into Players (high power, high interest), Subjects (high interest, low power), Context Setters (high power, low interest) and Crowd (low power, low interest). You can find a version of the matrix at http://www.stakeholdermap.com/stakeholder-analysis.html. I hope this helps.

Related questions

Explain the external stakeholder affecting hospitality organisation?

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Difference between customer and stakeholder?

stakeholder customer


What is project stakeholder management?

A stakeholder - is a person who has invested money in something.


What is connected stakeholder?

Connected Stakeholder are directly connected with business organisations.


Components of the tourism stakeholder system?

components of the tourism stakeholder system


Stakeholder of mutual fund?

A stakeholder of a mutual fund is someone who has interest in it.


What are stakeholder claims?

A stakeholder is any person who affects or is affected by the activities of an organisation. A claim is the outcome that the stakeholder seeks or the outcome which would benefit the stakeholder most or harm it least


Does a Shareholder view of ethics suggest that you retain mission critical people at the expense of less critical employees?

By the end of this section, you will be able to: Identify the factors that affect stakeholder prioritization Explain why priorities will vary based upon the interest and power of the stakeholder Describe how to prioritize stakeholder claims, particularly when they conflict If we carry the idea of stakeholder to the extreme, every person is a stakeholder of every company. The first step in stakeholder management, the process of accurately assessing stakeholder claims so an organization can manage them effectively, is therefore to define and prioritize stakeholders significant to the firm. Then, it must consider their claims. Given that there are numerous types of stakeholders, how do managers balance these claims? Ethically, no group should be treated better than another, and managers should respond to as many stakeholders as possible. However, time and resource limitations require organizations to prioritize claims as stakeholder needs rise and fall.


What is a non market stakeholder?

A stakeholder that does not engage in direct economic exchange with a company, but is affected by or can affect its actions. (Also called a secondary stakeholder.) An example are NGO's.


What is a non-market stakeholder?

A stakeholder that does not engage in direct economic exchange with a company, but is affected by or can affect its actions. (Also called a secondary stakeholder.) An example are NGO's.


Who are the stakeholder of the project management in Nepal?

Stakeholder are people who have an interest in company or organization's affairs.


What are the Examples of a stakeholder?

A stakeholder is an individual or group of people who have an interest in a business. Some stakeholders are stockholders, employees, customers, the community or society in which the company operates, etc. Sometimes, even the government can be a stakeholder. Anyone that has a "stake" in the company is a stakeholder basically.