Stakeholders are individuals or groups who have an interest in and/or are affected by the goals, operations or activities of your organisation or the behaviour of your members.
They may not have any direct dealings with your company, but they are nevertheless affected by your actions.
The most obvious and important stakeholders are customers, potential customers, suppliers, competitors, and authorities as these are the organisations that you interact with and focus on daily.
Stakeholders need to be identified in order be fully aware of who impacts and can be impacted by your business.
This analysis aids understanding of where the organisation sits in society.
Stakeholders often have different agendas and may disagree over what constitutes good behaviour. Some are more important to organisations than others, but this varies from one situation to another.
Your organisational survival is dependent upon a series of exchanges between your organisation and your environment. These exchanges and the continual interaction with the environment give rise to several broader responsibilities to society
A key part of strategic analysis is understanding and managing stakeholders; however, it is often overlooked. When you know who your stakeholders are, you are in a much better place to prioritise your efforts.
Who are your stakeholders?