Chapter 6: Purpose and stakeholders

Question 1

What is orgasational purpose?

Answer 1

Purpose is concerned with the value an organisation seeks to create for its stakeholders, potentially including both financial and non financial forms of value

“What a stretegy is for —> What the organisation trying to achieve with its strategy”

Question 2

What are stakeholders?

Answer 2

Stakeholders are those individuals or groups that depend on an organisation to fulfil their own goals and on whom, in turn, the organisation depends.

“Those who have some kind of stake in the future of the organisation”

Question 3

What are orgasational values?

Answer 3

Organisational values are the underlaying and enduring ideals, beliefs and principles that guide an organisations strategy and define the way that the organisation should operate.

These values are derived from the organisations stakeholder

Question 4

Name the five catagories stakeholder can be divided into?

Answer 4

Economic stakeholders - Suppliers, customers, distibutors

Social/Political stakeholders - Policy makers, councils

Technological stakeholders - Key adopters, ecosystem members (Apps for particular phones)

Community and society stakeholders - Those who are affected by the organisation (those who lives close by an facility)

Internal stakeholders - Employees, offices

Question 5

What is stakeholder mapping?

Answer 5

Stakeholder mapping identifies stakeholder power and attention in order to understand strategic priorities
(Power/Attention matrix)

Question 6

What is power

Answer 6

Power is the ability of individuals or groups to persuade, induce or coerce others into following particular strategies