Stakeholders And Decision Making Flashcards
1
Q
What are some internal stakeholder needs?
A
- Owners/shareholders want dividends and a high share price
- Employees want job security and promotions
2
Q
What are some external stakeholder needs?
A
- Customers want high quality products for low prices
- Local community want job offers
- Government want taxes
- Suppliers want to be paid on time
3
Q
What is stakeholder mapping?
A
- Identifies how power and influence stakeholders have on business
- Each grouped mapped based on how much communication and attention is required
- Decides how best to manage stakeholders
4
Q
Why is managing stakeholder relationships important?
A
- Must satisfy all stakeholders
- Need good communication to keep everyone happy
