How To Manage Stakeholders

Stakeholder management has to do with the process of maintaining good relationships with those who have a great impact on the organization. Communicating with them correctly can play a fundamental role in our continuity as a company.

 

Stakeholder Analysis

Stakeholders are an essential part of any project. A good project manager ‘s ability to balance stakeholder requirements, gain buy-in, and understand when and how to engage them is key to running a successful project.

It is essential to keep stakeholders organized to know when and how to engage them at the right time. We are going to talk about how to organize the different stakeholders in Vietnam Mobile Number List a matrix and make decisions about how we have to manage them according to their position in it.

This power matrix shows the stakeholders’ interest in the project versus their ability to influence it. This four-quadrant tool will help you assess how to manage stakeholders . It helps determine the appropriate level of commitment needed by the project team to gain the trust and buy-in of stakeholders.

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Differences Between Stakeholders And Shareholders

Although they seem similar terms, they are very different concepts. The translated definition of shareholders is shareholder, while that of stakeholder refers to interested parties. A shareholder is always a stakeholder, but a stakeholder is not always a shareholder…

A shareholder is the owner of the shares of a company. Employees and board members are internal stakeholders because they have a direct relationship with the company. Vendors and community members, however, are examples of external stakeholders. Let’s see more schematically the differences:

  • shareholder owns at least one share of the company, while a stakeholder does not necessarily have any shares, but has a vested interest in the success of the company.
  • shareholder has contributed to the success of the company in the form of investment, while a stakeholder is interested in the success of the company for reasons other than financial.
  • Stakeholders typically have a long – term interest in the success of the company, while shareholder interest may cease if a shareholder sells his or her shares.

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