Understanding the role and importance of stakeholders

What are stakeholders?
Individuals or groups within society who have an interest in an organisations operations and performance
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What are primary stakeholders?
Individuals or groups directly affected by a particular business activity
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What are secondary stakeholders?
Individuals or groups that have an indirect interest within the business
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Give 2 examples of secondary stakeholders
General public, local communities, activist groups, the media
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Give an example of an internal stakeholder
Employees, shareholders, managers
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Give an example of an external stakeholder
The government, suppliers
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How can stakeholder mapping help managers?
Helps them to consider decisions in relation to stakeholders' need and their ability to influence it
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Give an example of an internal factor that influences the relationship with stakeholders
Business objectives, management and leadership styles, size and ownership of the business
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Give an example of an external factor that influences the relationship with stakeholders
Market conditions, the power of stakeholder groups, government policies
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What does consultation mean?
Finding out the views of relevant stakeholder groups
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What is 'push' communicating?
One-way communication such as emails, podcasts, mailshots, letters
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What is 'pull' communicating?
Communication with stakeholder groups if they choose to engage with the business
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An approach to stakeholder management?
Partnership, participation, consultation, 'push' communications, 'pull' communications
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Other cards in this set

Card 2

Front

What are primary stakeholders?

Back

Individuals or groups directly affected by a particular business activity

Card 3

Front

What are secondary stakeholders?

Back

Preview of the front of card 3

Card 4

Front

Give 2 examples of secondary stakeholders

Back

Preview of the front of card 4

Card 5

Front

Give an example of an internal stakeholder

Back

Preview of the front of card 5
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