Lecture 3 Stakeholder management

Question 1

What is a stakeholder?

Answer 1

Any group or individual who can affect or is affected by the achievements of the organisations purpose and objectives

Question 2

What are the primary groups of stakeholders?

Answer 2

Necessary to survive

financial transactions

Question 3

What are the secondary groups of stakeholders?

Answer 3

Not essential to survive

general influence

Question 4

What are the three groups of stakes?

Answer 4

Equity stakes (ownership=share)
economic or market stakes (business relation)
influencer stakes

Question 5

What are the stakeholder groups of an organisation? (8)

Answer 5

Investors
Political groups 
Customers
Community 
Employees
Trade associates
Suppliers 
Governments

Question 6

What are the key questions for the stakeholder management ? (7)

Answer 6

Who are they?
what motivates them the most?
how important are they to us and the other way around?
is their current opinion positive or negative?
how and when are they impacted by our organisation and plans?
who influences them and who do they influence?
how can we engage with them to win their support?

Question 7

Low interest Low power

Answer 7

Monitor

Question 8

High interest Low power

Answer 8

Keep satisfied

Question 9

Low interest High power

Answer 9

Keep informed

Question 10

High interest High power

Answer 10

Manage closely

Question 11

What are the three stakeholder attributes

Answer 11

Power
Legitimacy
Urgency