Stakeholder - Revision history

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← Older revision		Revision as of 13:46, 19 July 2023
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	*[[Intrinsic Stakeholder Commitment]]		*[[Intrinsic Stakeholder Commitment]]
	*[[Stakeholder Analysis]]		*[[Stakeholder Analysis]]
		+	*[[Actor Analysis]]

@@ Line 1: / Line 1: @@
-Business Doctionary defines Stakeholder as "A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies."<ref>Definition = What does Stakeholder Mean? [http://www.businessdictionary.com/definition/stakeholder.html Bisoness Dictionary]</ref>
+[http://www.businessdictionary.com/definition/stakeholder.html Business Dictionary defines Stakeholder] as "A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives, and policies."
 The international standard providing guidance on social responsibility, ISO 26000, defines a stakeholder as an “individual or group that has an interest in any decision or activity of an organization.”
-Stakeholders can be internal or external. Internal stakeholders are people whose interest in a company comes through a direct relationship, such as employment, ownership or investment. External stakeholders are those people who do not directly work with a company but are affected in some way by the actions and outcomes of said business. Suppliers, creditors and public groups are all considered external stakeholders.<ref>Internal and External Stakeholders [https://www.investopedia.com/terms/s/stakeholder.asp Investopedia]</ref>
+Stakeholders can be internal or external. Internal stakeholders are people whose interest in a company comes through a direct relationship, such as employment, ownership, or investment. External stakeholders are those people who do not directly work with a company but are affected in some way by the actions and outcomes of said business. Suppliers, creditors, and public groups are all considered external stakeholders.<ref>Internal and External Stakeholders [https://www.investopedia.com/terms/s/stakeholder.asp Investopedia]</ref>
 == Types of Stakeholders ==
 Types of stakeholders include:
 *Primary: those who are directly affected, either positively or negatively, by an organization’s actions
 *Secondary: those who are indirectly affected by an organization’s actions
@@ Line 14: / Line 13: @@
 == Stakeholder Analysis<ref>Stakeholder Analysis: Benefits and Matrix [https://asq.org/quality-resources/stakeholders Asq.org]</ref> ==
-Stakeholder analysis is defined as a tool organizations can use to clearly identify key stakeholders for a project or other activity, understand where stakeholders stand, and develop cooperation between the stakeholders and the project team. The main objective is to ensure successful outcomes for the project or the changes to come. Stakeholder analysis is frequently used during the preparation phase of a project and is an excellent way to assess the attitudes of stakeholders towards changes or critical actions. It can be done once or on a regular basis to track changes in stakeholder attitudes over time. The stakeholder analysis is generally considered a highly confidential document because it often contains sensitive information.
+'''Benefits of Creating a Stakeholder Analysis'''
 *Provides clear understanding of stakeholders’ interests
 *Offers mechanisms to influence other stakeholders
@@ Line 28: / Line 26: @@
 *Step 2. List all key stakeholders in the appropriate cells (Table 1).
 *Step 3. Stakeholder analysis: Create a second matrix (Table 2). List all key stakeholders in the first column. List relevant information regarding them in the top row, using as many columns as needed.
-*Step 4. Complete the information in the table by conducting interviews or through discussions with the project sponsor or another high- level resource.
+*Step 4. Complete the information in the table by conducting interviews or discussions with the project sponsor or another high-level resource.
 *Step 5. Prepare an action plan to engage the stakeholders who could have a negative impact on the project or could be severely impacted by the actions.
 [[File:Stakeholder_Analysis_Matrix.png|500px|Stakeholder Analysis Matrix]]<br />
@@ Line 35: / Line 34: @@
-== The Stakeholder Debate<ref>The Stakeholder Debate in corporate responsibility [https://en.wikipedia.org/wiki/Stakeholder_(corporate) Wikipedia]</ref> ==
+== The Stakeholder Debate<ref>[https://en.wikipedia.org/wiki/Stakeholder_(corporate) The Stakeholder Debate in corporate responsibility]</ref> ==
-In the field of Corporate Governance and Corporate_Social_Responsibility_(CSR), a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[Shareholder]]s, Customers, or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
+In the field of Corporate Governance and Corporate_Social_Responsibility_(CSR), a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, Shareholders, Customers, or others. Proponents in favor of stakeholders may base their arguments on the following four key assertions:
-) Value can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders at the same time. There is evidence that the combined effects of such a policy are not only additive but even multiplicative. For instance, by simultaneously addressing [[customer]] wishes in addition to [[employee]] and stockholder interests, both of the latter two groups also benefit from increased sales.
+) Value can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders simultaneously. There is evidence that the combined effects of such a policy are not only additive but even multiplicative. For instance, by simultaneously addressing customer wishes in addition to employee and stockholder interests, both of the latter two groups also benefit from increased sales.
 ) Supporters also take issue with the preeminent role given to stockholders by many business thinkers, especially in the past. The argument is that debt holders, employees, and suppliers also make contributions and thus also take risks in creating a successful firm.
-) These normative arguments would matter little if stockholders (shareholders) had complete control in guiding the firm. However, many believe that due to certain kinds of board of directors structures, top managers like CEOs are mostly in control of the firm.
+) These normative arguments would matter little if stockholders (shareholders) had complete control in guiding the firm. However, many believe that due to certain kinds of the board of directors structures, top managers like CEOs are mostly in control of the firm.
-) The greatest value of a company is its image and brand. By attempting to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners, companies can prevent damage to their image and brand, prevent losing large amounts of sales and disgruntled customers, and prevent costly legal expenses. While the stakeholder view has an increased cost, many firms have decided that the concept improves their image, increases sales, reduces the risks of liability for corporate negligence, and makes them less likely to be targeted by pressure groups, campaigning groups and NGOs.
+) The greatest value of a company is its image and brand. By attempting to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners, companies can prevent damage to their image and brand, prevent losing large amounts of sales and disgruntled customers, and prevent costly legal expenses. While the stakeholder view has an increased cost, many firms have decided that the concept improves their image, increases sales, reduces the risks of liability for corporate negligence, and makes them less likely to be targeted by pressure groups, campaigning groups, and NGOs.
-A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the outcome. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.
+A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of the various subsets of stakeholders, as customers and employees also have stakes in the outcome. In the most developed sense of stakeholders regarding real corporate responsibility, the bearers of externalities are included in stakeholdership.
@@ Line 61: / Line 56: @@
 *[[Stakeholder Value Perspective]]
 *[[Intrinsic Stakeholder Commitment]]

← Older revision		Revision as of 12:17, 20 January 2023
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	*[[Stakeholder Theory]]		*[[Stakeholder Theory]]
	*[[Stakeholder Value Perspective]]		*[[Stakeholder Value Perspective]]
		+	*[[Intrinsic Stakeholder Commitment]]

@@ Line 1: / Line 1: @@
-[[Business]] Doctionary defines Stakeholder as "A person, group or [[organization]] that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies."<ref>Definition = What does Stakeholder Mean? [http://www.businessdictionary.com/definition/stakeholder.html Bisoness Dictionary]</ref>
+Business Doctionary defines Stakeholder as "A person, group or organization that has interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies."<ref>Definition = What does Stakeholder Mean? [http://www.businessdictionary.com/definition/stakeholder.html Bisoness Dictionary]</ref>
-The international [[standard]] providing guidance on social responsibility, ISO 26000, defines a stakeholder as an “individual or group that has an interest in any decision or activity of an organization.”
+The international standard providing guidance on social responsibility, ISO 26000, defines a stakeholder as an “individual or group that has an interest in any decision or activity of an organization.”
 Stakeholders can be internal or external. Internal stakeholders are people whose interest in a company comes through a direct relationship, such as employment, ownership or investment. External stakeholders are those people who do not directly work with a company but are affected in some way by the actions and outcomes of said business. Suppliers, creditors and public groups are all considered external stakeholders.<ref>Internal and External Stakeholders [https://www.investopedia.com/terms/s/stakeholder.asp Investopedia]</ref>
@@ Line 15: / Line 15: @@
 == Stakeholder Analysis<ref>Stakeholder Analysis: Benefits and Matrix [https://asq.org/quality-resources/stakeholders Asq.org]</ref> ==
-Stakeholder analysis is defined as a tool organizations can use to clearly identify key stakeholders for a project or other activity, understand where stakeholders stand, and develop cooperation between the stakeholders and the project team. The main [[objective]] is to ensure successful outcomes for the project or the changes to come. Stakeholder analysis is frequently used during the preparation phase of a project and is an excellent way to assess the attitudes of stakeholders towards changes or critical actions. It can be done once or on a regular basis to track changes in stakeholder attitudes over time. The stakeholder analysis is generally considered a highly confidential document because it often contains sensitive information.
+Stakeholder analysis is defined as a tool organizations can use to clearly identify key stakeholders for a project or other activity, understand where stakeholders stand, and develop cooperation between the stakeholders and the project team. The main objective is to ensure successful outcomes for the project or the changes to come. Stakeholder analysis is frequently used during the preparation phase of a project and is an excellent way to assess the attitudes of stakeholders towards changes or critical actions. It can be done once or on a regular basis to track changes in stakeholder attitudes over time. The stakeholder analysis is generally considered a highly confidential document because it often contains sensitive information.
 '''Benefits of Creating a [[Stakeholder Analysis]]'''
@@ Line 36: / Line 36: @@
 == The Stakeholder Debate<ref>The Stakeholder Debate in corporate responsibility [https://en.wikipedia.org/wiki/Stakeholder_(corporate) Wikipedia]</ref> ==
-In the field of [[Corporate Governance]] and [[Corporate Responsibility|Corporate_Social_Responsibility_(CSR)]], a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[Shareholder]]s, [[Customer]]s, or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
+In the field of Corporate Governance and Corporate_Social_Responsibility_(CSR), a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[Shareholder]]s, Customers, or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
-) [[Value]] can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders at the same time. There is evidence that the combined effects of such a [[policy]] are not only additive but even multiplicative. For instance, by simultaneously addressing [[customer]] wishes in addition to [[employee]] and stockholder interests, both of the latter two groups also benefit from increased sales.
+) Value can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders at the same time. There is evidence that the combined effects of such a policy are not only additive but even multiplicative. For instance, by simultaneously addressing [[customer]] wishes in addition to [[employee]] and stockholder interests, both of the latter two groups also benefit from increased sales.
 ) Supporters also take issue with the preeminent role given to stockholders by many business thinkers, especially in the past. The argument is that debt holders, employees, and suppliers also make contributions and thus also take risks in creating a successful firm.
-) These normative arguments would matter little if stockholders (shareholders) had complete [[control]] in guiding the firm. However, many believe that due to certain kinds of board of directors structures, top managers like CEOs are mostly in control of the firm.
+) These normative arguments would matter little if stockholders (shareholders) had complete control in guiding the firm. However, many believe that due to certain kinds of board of directors structures, top managers like CEOs are mostly in control of the firm.
-) The greatest value of a company is its image and [[brand]]. By attempting to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners, companies can prevent damage to their image and brand, prevent losing large amounts of sales and disgruntled customers, and prevent costly legal expenses. While the stakeholder view has an increased cost, many firms have decided that the concept improves their image, increases sales, reduces the risks of [[liability]] for corporate negligence, and makes them less likely to be targeted by pressure groups, campaigning groups and NGOs.
+) The greatest value of a company is its image and brand. By attempting to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners, companies can prevent damage to their image and brand, prevent losing large amounts of sales and disgruntled customers, and prevent costly legal expenses. While the stakeholder view has an increased cost, many firms have decided that the concept improves their image, increases sales, reduces the risks of liability for corporate negligence, and makes them less likely to be targeted by pressure groups, campaigning groups and NGOs.
-A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the [[outcome]]. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.
+A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the outcome. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.
@@ Line 54: / Line 54: @@
 == See Also ==
-*[[Business Strategy]]
+*[[Stakeholder Engagement]]
-*[[IT Strategy (Information Technology Strategy)|IT Strategy]]
+*[[Stakeholder Identification]]
-*[[IT Governance]]
+*[[Stakeholder Management]]
-*[[Enterprise Architecture]]
+*[[Stakeholder Mapping]]
-*[[IT Sourcing (Information Technology Sourcing)|IT Sourcing]]
+*[[Stakeholder Theory]]
-*[[IT Operations (Information Technology Operations)|IT Operations]]
+*[[Stakeholder Value Perspective]]

@@ Line 29: / Line 29: @@
 *Step 3. Stakeholder analysis: Create a second matrix (Table 2). List all key stakeholders in the first column. List relevant information regarding them in the top row, using as many columns as needed.
 *Step 4. Complete the information in the table by conducting interviews or through discussions with the project sponsor or another high- level resource.
-*Step 5. Prepare an action plan to engage the stakeholders who could have a negative [[impact]] on the project or could be severely impacted by the actions.
+*Step 5. Prepare an action plan to engage the stakeholders who could have a negative impact on the project or could be severely impacted by the actions.
 [[File:Stakeholder_Analysis_Matrix.png|500px|Stakeholder Analysis Matrix]]<br />
@@ Line 36: / Line 36: @@
 == The Stakeholder Debate<ref>The Stakeholder Debate in corporate responsibility [https://en.wikipedia.org/wiki/Stakeholder_(corporate) Wikipedia]</ref> ==
-In the field of [[Corporate Governance]] and [[Corporate Responsibility|Corporate_Social_Responsibility_(CSR)]], a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[Shareholder]]s, [[customers|Customer]], or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
+In the field of [[Corporate Governance]] and [[Corporate Responsibility|Corporate_Social_Responsibility_(CSR)]], a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[Shareholder]]s, [[Customer]]s, or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
 ) [[Value]] can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders at the same time. There is evidence that the combined effects of such a [[policy]] are not only additive but even multiplicative. For instance, by simultaneously addressing [[customer]] wishes in addition to [[employee]] and stockholder interests, both of the latter two groups also benefit from increased sales.

← Older revision		Revision as of 22:36, 17 January 2022
Line 47:		Line 47:

	A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the [[outcome]]. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.		A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the [[outcome]]. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.
		+
		+
		+	== References ==
		+	<references />
		+

	== See Also ==		== See Also ==

← Older revision		Revision as of 13:07, 23 June 2019
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	[[File:Stakeholder_Analysis_Matrix.png\|500px\|Stakeholder Analysis Matrix]]<br />		[[File:Stakeholder_Analysis_Matrix.png\|500px\|Stakeholder Analysis Matrix]]<br />
	source: ASQ.Org		source: ASQ.Org
		+
		+
		+	== The Stakeholder Debate<ref>The Stakeholder Debate in corporate responsibility [https://en.wikipedia.org/wiki/Stakeholder_(corporate) Wikipedia]</ref> ==
		+	In the field of [[Corporate Governance]] and [[Corporate Responsibility\|Corporate_Social_Responsibility_(CSR)]], a debate is ongoing about whether the firm or company should be managed primarily for stakeholders, [[stockholders (shareholders)\|Shareholder]], [[customers\|Customer]], or others. Proponents in favour of stakeholders may base their arguments on the following four key assertions:
		+
		+	1) Value can best be created by trying to maximize joint outcomes. For example, according to this thinking, programs that satisfy both employees' needs and stockholders' wants are doubly valuable because they address two legitimate sets of stakeholders at the same time. There is evidence that the combined effects of such a policy are not only additive but even multiplicative. For instance, by simultaneously addressing customer wishes in addition to employee and stockholder interests, both of the latter two groups also benefit from increased sales.
		+
		+	2) Supporters also take issue with the preeminent role given to stockholders by many business thinkers, especially in the past. The argument is that debt holders, employees, and suppliers also make contributions and thus also take risks in creating a successful firm.
		+
		+	3) These normative arguments would matter little if stockholders (shareholders) had complete control in guiding the firm. However, many believe that due to certain kinds of board of directors structures, top managers like CEOs are mostly in control of the firm.
		+
		+	4) The greatest value of a company is its image and brand. By attempting to fulfill the needs and wants of many different people ranging from the local population and customers to their own employees and owners, companies can prevent damage to their image and brand, prevent losing large amounts of sales and disgruntled customers, and prevent costly legal expenses. While the stakeholder view has an increased cost, many firms have decided that the concept improves their image, increases sales, reduces the risks of liability for corporate negligence, and makes them less likely to be targeted by pressure groups, campaigning groups and NGOs.
		+
		+	A corporate stakeholder can affect or be affected by the actions of a business as a whole. Whereas shareholders are often the party with the most direct and obvious interest at stake in business decisions, they are one of various subsets of stakeholders, as customers and employees also have stakes in the outcome. In the most developed sense of stakeholders in terms of real corporate responsibility, the bearers of externalities are included in stakeholdership.