Stakeholder prioritization involves determining which
stakeholders will receive the largest consideration during
planning. For a frame of reference, create a fictitious project and
describe how would you prioritize stakeholders? What information
would each group of stakeholders require?
Answer
stakeholders are the people who directly or indirectly
contribute their services towards the organization. their
contribution helps the firms to survive in the market and to reach
its goals. the stakeholders to a firm includes:
shareholders/owners: the people who provided capital and
establishes business. these people concern about fiancial inputs
and profitability of the firm. they looks for the firm's wealth
maximization.
board of directors/ top management: these people frame different
strategies towards running of the firm. those may be called as
strategic decisions. these decisions influece the firm as a whole
and these people are key people in the survival of the firm. even
legally they are answerable persons to the firm's actions.
employees: these people contribute their knowledge, time and
efforts towards the firm. they execute the strategies planned by
the top level management. these are full time workers and consider
the departmental activities, and works to achieve the goals.
customers: these people encourages the firm by purchasing their
products and services.
government/ society: they supports the firms by providing
licencing and security.
these are different kind of stakeholders who contributes a
firm.
