Stakeholders Flashcards
Managing and the principles of managing stakeholders.
What are the two types of stakeholders, give examples.
Internal - Owners/customers/employees
External - Customers/suppliers/investors
How do you identify internal stakeholders
Primary and secondary research
How do you identify external stakeholders
Formal and informal interviews
Ways of communicating with stakeholders
- Active listening
- Questioning - open questions
-Appropriate communication methods
-Confirm a when and how of communication
What are the needs of owners
Business/profits/reputation
What are the needs of employees
Job stability/promotion opportunities
What are the needs of customers
service/quality of goods/value
What are the needs of suppliers
profitable relationship/payments
What level of power does a owner have
high - financial and status influence
What level of power does an employee have
medium - right to influence decisions
What level of power does a customer have
High - influence feedback/reputation and if they purchase
What level of power does an supplier have?
High - power to raise/lower prices and profits
Why is it important to deal with any issues with stakeholders promptly?
To build trust and a good relationship
Why do we need to involve stakeholders when making decisions?
To ensure they feel valued and build loyalty
How many Clarckson principles are they?
7
