Posted inBasics Strength of Materials
Posted inPrinciple of Management
Stakeholders
Any individual or groups/group of individualswho believe and have an interest in an organization’s ability to deliver intended results and affect or are affected by its outcomes are called stakeholders. Stakeholders play an integral part in the development and ultimate success of anorganization. An organization is usually accountable to a broad range of stakeholders, includingshareholders, who are an integral part of an organization’s strategy execution. This is the main reason managers must consider stakeholders’ interests, needs, and preferences. A stakeholder is anybody whocan affect or is affected by an organization, strategy or project. They can be internal or external and they can be at senior or junior levels. Types of Stakeholders Stakeholders are people who have the power to impact an organization or a project in some way. Stakeholders can be of two types: Primary or Internal stakeholders External stakeholders Primary…