Stakeholders

Question 1

What is a stakeholder?

Answer 1

Anyone interested in the business- anyone who can be impacted or impact the business.

Question 2

What are the four types of stakeholder?

Answer 2

Internal-s/h who works for the same organisation
External- s/h only associated with the business as they’re accessing a service
Suppliers- want business to continue using products
Partner organisations- work w business to provide service

Question 3

What is stakeholder management?

Answer 3

The process you organise, monitor and improve relationships with stakeholders.

Question 4

7 Principles of stakeholder management

Answer 4

1. Monitor concerns of stakeholders
2. Communicate
3. Adopt processes/ behaviours that match concerns
4. Recognise link between effort + rewards
5. Minimise risks and harm
6. Avoid activities that jeopardise human rights
7. Acknowledge conflict between role and morals