3.2.3 Flashcards
the role and importance of stakeholders
1
Q
what is a stakeholder?
A
individuals or groups who are influenced by; and hold interest in, the activities of a business
- can have a positive or negative impact
2
Q
what is an internal stakeholder?
A
owners, managers, employees, shareholders, CEO
3
Q
what are external stakeholders?
A
customers, competition, community, government, suppliers, pressure groups
4
Q
what are pressure groups?
A
a group who try to influence the actions of a business e.g. global warming, unethical practices
5
Q
what is a stakeholder map?
A
a visual representation of individuals or groups with a vested interest in a project, product or idea
6
Q
what influences the relationship with stakeholders?
A
- the expertise and experience of the management team
- the need to understand what the stakeholders want
- how to approach them
7
Q
how do you manage relationships with different stakeholders?
A
- identify and prioritise key stakeholders
- clearly communicate the project to stakeholders
- gain stakeholders trust from the start
- be consistent with communications
- meet stakeholders who are resistant to change
- dont avoid problems
