stakeholder
(noun)
A person or organization with a legitimate interest in a given situation, action, or enterprise.
(noun)
A person or group that affects or can be affected by an organization's actions.
Examples of stakeholder in the following topics:
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Internal Stakeholders
- Organizational management is largely influenced by the opinions and perspectives of internal and external stakeholders.
- Employees are primary internal stakeholders.
- Owners often make substantial decisions regarding both internal and external stakeholders.
- This graphic is a good illustration of the stakeholders involved in a search engine organization.
- Owners are directly involved in the process, and thus described as internal stakeholders.
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External Stakeholders
- Decisions should be made in a way that ensures all stakeholders are considered.
- As a result, suppliers are closely related to organizations as key external stakeholders.
- Governments can in fact be considered primary stakeholders, considering the profit motive involved.
- While other stakeholder groups could be discussed at length, these are a few of the key pillars in stakeholder theory.
- Identify the various external stakeholders that may be impacted by business operations
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Types of Stakeholders
- Although all stakeholders can affect or be affected by the organization's actions, objectives, and policies, not all stakeholders are equal.
- In contrast, secondary stakeholders are usually external stakeholders who may not necessarily engage in direct economic exchange with the organization.
- Customers represent another key stakeholder group.
- Some of the most powerful primary stakeholders are stockholders.
- Funders and donors are yet another powerful stakeholder.
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Promoting Ethical Behavior through the Planning Process
- Building in a strong sense of ethics, and an alignment with the well-being of all existing stakeholders (and society at large) is an integral aspect of the strategic planning process.
- The concept of aligning with the needs, ethics, and well-being of all stakeholders is referred to as Stakeholder Theory.
- All organizations have a wide variety of stakeholders.
- Basically any group, individual, or organization impacted by operations is considered a stakeholder.
- This code of ethics should take stakeholders concerns into consideration, and evolve organically over time as the organization grows.
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Employee Development
- There are several categories of stakeholders that are helpful in understanding employee development: sponsors, managers and supervisors, participants, and facilitators.
- Each of these stakeholder groups has its own agendas and motivations, which can cause conflict with the agendas and motivations of other stakeholder groups.
- Human resource professionals should focus on aligning the interests of every stakeholder in the development process to capture mutual value.
- Talent development, part of human resource development, is the process of changing an organization, its employees, and its stakeholders, using planned and unplanned learning, in order to achieve and maintain a competitive advantage for the organization.
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The Mission Statement
- The mission statement is generated to retain consistency in overall strategy and to communicate core organizational goals to all stakeholders.
- The external assessment, which includes the business's stakeholders, is valuable since it offers a different perspective.
- How the organization provides value to these stakeholders, that is, by offering specific types of products or services
- An example of a mission statement, which includes the organization's aims and stakeholders and how it provides value to these stakeholders.
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Why Study Organizational Theory?
- Organizational theory studies organizations to identify the patterns and structures they use to solve problems, maximize efficiency and productivity, and meet the expectations of stakeholders.
- Organizational theory examines patterns in meeting stakeholders' needs.
- This concept map illustrates common internal and external stakeholders: internal stakeholders include employees and managers, while external stakeholders include customers, suppliers, creditors, and society at large.
- A company must take all of these stakeholders' interests into account.
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Building Support for Intrapreneurship
- Intrapreneurs need to know who the key stakeholders are and how to capture their attention.
- Customers are also key stakeholders because their needs are the primary determinant of organizational trajectory.
- One useful way to integrate stakeholders and speak the language of upper management is to numerically demonstrate that a new idea is financially and strategically feasible.
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Types of Organizational Branding Deliverables
- Communicating clearly and accurately with stakeholders is a vital task of any successful organization.
- Communicating clearly and accurately with stakeholders is a vital task of any successful organization.
- Effective communication through use of deliverables such as annual reports and internal memos can allow an organization to provide important information to stakeholders while establishing and reinforcing the company brand.
- They may be considered "grey literature" and may be used only to communicate with internal stakeholders.
- Internal memos can be a great way to build and maintain a positive and transparent relationship between organizational leaders and other primary or internal stakeholders.
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Visual Scorecards
- A good visual scorecard is easily deciphered by all stakeholders, immediately conveying areas of strength, weakness, success, or deficiency.
- When communicating business processes to stakeholders, managers are often tempted to rely on jargon and detail-oriented descriptions of strategy and process.
- The visual scorecard gives stakeholders a clear understanding that jargon and business-speak may not.