stakeholder


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Related to stakeholder: Stakeholder Management

Stakeholders

All persons and institutions that have an interest in seeing a venture or company succeed. Stakeholders include shareholders, management, employees, the larger community, and even the government. While stakeholders may not have a direct financial holding in the company, they would still stand to benefit if the venture or company succeeds. For example, the local government may wish to see a company succeed because it provides tax revenue, even though the local government does not directly own any part of the company.

stakeholder

Any party that has an interest in an organization. Stakeholders of a company include stockholders, bondholders, customers, suppliers, employees, and so forth.

stakeholder

someone having an interest or stake in the operations and performance of a firm. Shareholders in a company have an interest in so far as they have invested money in the company and look for a return on that investment in the form of dividends and share appreciation. Employees have a stake since they work in the firm and are dependent on the firm for their jobs and incomes. Customers have a stake since they buy products from the firm and require a stable supply of products that are safe, effective and affordable. Suppliers have a stake as providers of raw materials and services. Finally the broader community has a stake in the firm and looks to the firm to behave as a ‘good citizen’ who will avoid polluting the environment and will help in solving community problems such as inner city decay etc.

Until recent years managers were expected to run companies largely in the interests of shareholders; however in recent years firms have been urged to adopt broader responsibilities to all stakeholders.

See CORPORATE SOCIAL RESPONSIBILITY, CORPORATE GOVERNANCE.

stakeholder

someone who has an interest or stake in an organization. In a JOINT-STOCK COMPANY stakeholders include:
  1. shareholders, who expect reasonable returns on their investment (dividends and share appreciation);
  2. employees, who expect good wages, job security and working conditions;
  3. customers, who expect good-quality products at reasonable prices;
  4. suppliers, who expect regular orders and prompt payment;
  5. the community, which expects companies to pay taxes and curb their pollution.

Discussions of CORPORATE GOVERNANCE have tended to emphasize the responsibility of salaried managers to act as AGENTS of the shareholders who own the business. By contrast, stakeholder advocates stress the multiple responsibilities of a company and its managers to all stakeholder groups and the need for companies to accept SOCIAL RESPONSIBILITY for their actions. See FIRM OBJECTIVES.

stakeholder

Anyone who might be affected by a decision;anyone who has a “stake”in the outcome of a situation. Local government decisions are typically made with reference to the stakeholders in the community,which could include nearby property owners,employers,employees,tenants,lenders, and community service programs.

References in periodicals archive ?
Stakeholder confidence was found to be on average 27 percent more difficult to achieve than a good reputation.
This represents a valuable opportunity to gain perspective and insights into the values and interests of the stakeholder, but it also provides an opportunity for both parties to discuss their visions and goals for the project and get a first glimpse into how easy it will be to align these goals for program success (Step 3).
Stakeholder schemes have already been designed to make saving for retirement simple which is vital as the Government estimates some seven million people are currently under-saving towards their own retirement.
Stakeholder utility can be broken down into four factors impacting the use of measurement tools among PBIS stakeholders.
The key strategy for enhancing the process's scalability, and thus mitigating the risk of lower quality at higher levels of throughput, is to make it less burdensome for stakeholders to provide meaningful input to the process.
The discussion of stakeholder theory has mainly been a normative domain, focusing on how managers should deal with corporate stakeholders (Donaldson and Preston, 1995).
Stakeholder analysis in the early project phase may not include all stakeholders or provide enough information about all their characteristics, but it should provide initial data for other project documents (like teams forming, risk analyses, project plan or communication plan.
Within this paradigm shift to stakeholder participation, there are many variations and typologies.
For example, stakeholder register on large project could be long, and missing to identify or even wrongly evaluate some stakeholders, could lead to incomplete, incorrect or inconsistent SRSQ.
The review of the literature suggested that there are numerous CSFs that can be identified as being crucial to the successful implementation of stakeholder management.