Simply knowing who stakeholders are is not enough. An organization may have a long list of people who are in some way influenced by the work of the organization; the list may even be prioritized by importance. However, this does not necessarily add value to the organization. Engaging key stakeholders and developing positive relationships with them is critical for the effectiveness of the organization. Therefore, it is important that the organization understands, manages, and optimizes the expectations of the stakeholders. This may include identifying stakeholder interest, prioritizing stakeholder involvement, establishing relationships with stakeholders, and maximizing involvement through communications and training. The means to accomplish these tasks may depend on such factors as the size of the organization or whether the organization is established as for profit or non-profit. In this assignment, you will address the relationship between stakeholder management and organizational effectiveness.
- A research-based discussion of the nature of stakeholder management.
- A research-based discussion of the methods of stakeholder management. What factors influence the methods used? For example, does the for profit/non-profit status of the organization alter the choice of stakeholder management methods?
- A research-based discussion of how stakeholder management can influence organizational effectiveness.