1.4

Cards (19)

  • Stakeholders
    People or groups of people or organizations that affect business decision making or are affected by business decision making or have interest in the operations of a particular business
  • Stake
    Interest in the business, not necessarily a financial stake or shares in the company
  • Internal stakeholders
    • Shareholders
    • Managers
    • Employees
    • CEO
  • Shareholders
    Their main objective is maximizing shareholder value
  • Managers
    Want to achieve objectives at their level in the shortest possible time with the lowest costs
  • Employees
    Want good working conditions and maximum pay for minimum work
  • CEO
    Wants to keep shareholders happy
  • External stakeholders
    • Government
    • Media
    • Local community
    • Suppliers
  • Government
    Wants stable tax revenues, compliance with law, and voters support
  • Media
    Wants publicity, regardless of whether the story is positive or negative
  • Local community
    Cares about employment opportunities and no harm to the environment
  • Suppliers
    Want constant orders and a good relationship with the company, with a short credit period
  • There is no agreement whether competitors are a stakeholder group or not
  • Stakeholders can be both internal and external at the same time, e.g. employees who live near the workplace
  • Minority shareholders with no decision-making power are considered external stakeholders, even though they are technically internal
  • Stakeholders and shareholders are not the same thing - shareholders are a type of stakeholder, but stakeholders include other groups beyond just shareholders
  • Stakeholder conflict

    A clash of interests or objectives between different stakeholder groups
  • Power Interest Matrix
    • Helps prioritize stakeholder groups based on their power and interest
    • Four quadrants: low power/low interest (minimum effort), low power/high interest (keep informed), high power/low interest (keep satisfied), high power/high interest (maximum effort)
  • Stakeholder Analysis
    • Visually represents different stakeholder groups based on their proximity and influence on decision-making