Stakeholder Management

What is a stakeholder? It is a person, group or organization that has an interest or concern in an organization. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, debtors, directors, employees, government (and its agencies), owners (shareholders) and its suppliers, unions and the community from which the organization draws its resources. The stakeholder's interest need to be analyzed and all the stakeholders in a decision need to be ranked, because not all stakeholders are equal.