Understanding the role and importance of stakeholders

Question 1

What are stakeholders?

Answer 1

Someone who has an interest in the business

Question 2

What is a primary stakeholder and give an example

Answer 2

They are affected directly by the business activity, eg employee

Question 3

What is a secondary stakeholder and give an example

Answer 3

They are affected indirectly by the businesses activity eg local community

Question 4

What are the four sections of the stakeholder map?

Answer 4

Keep satisfied, Manage closely, Monitor, keep informed

Question 5

What is stakeholder engagement?

Answer 5

A process by which managers involve individuals and groups which may be affected by decisions