Managing your stakeholders

Managing your stakeholders

Ultimately, stakeholder management is what running an organisation is all about. Effective stakeholder management helps you do a better job, both in the short and long term.

So what are stakeholders?

Well, anyone who has a stake in what you do, is a stakeholder. Anyone who you are dependent on to be successful and anyone who is dependent on (or impacted by) what you do. This means that your stakeholders could be:

  • Manager(s)
  • CEO
  • Direct reports
  • Colleagues
  • Customers/clients
  • Suppliers
  • Internal business partners
  • External business partners
  • Interest groups (linked to your industry, organisation etc. – this could for example be unions, lobbying groups and protest groups)
  • The general public

Yes, the list is long – and this is not even a complete list. As we’ve mentioned before, transparency is becoming more and more important, and expected. This means you need to think about how to best manage at least your key stakeholders with enough transparency to be able to get the support you need to do a great job and deliver great results. Like with all communication, it’s about meeting the receiver where they are, rather than just communicating from your own perspective.

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Author: sfuest

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