Who are Your Stakeholders?
Stakeholder is a broad term used to describe different people, groups, and entities related to a project and these vary from immediate to indirect benefactors, decision-makers, supervisors, financial institutions, suppliers, customers, and the community. Identifying stakeholders involves categorizing them into different groups:
1. Primary Stakeholders:
They are the condemned people here and the project naturally touches their lives. They have no only the clients, customers, employees, and investors but the project itself who have a stake or an interest in the project being successful.
2. Secondary Stakeholders:
Such organizations are affected in a way other than the project but still remain the center of interests. Such bodies may comprise, for instance, regulators, agencies, suppliers and competitors whose actions or legislation can be of a relevant nature emphasizing the project’s ultimate outcome.
3. Tertiary Stakeholders:
This constituency refers to those participants or organizations, those maybe not involving directly into the project plan but still having an interest in the project result. For instance these can be non-governmental organizations, company representatives, or media personnel who may have entirely different viewpoints on the issue.
4. Internal vs. External Stakeholders:
The stakeholders categories can be described according to the link they have with the organization. With regard to stakeholders in the internal environment we mean employees and management, and a private sphere includes the consumers, suppliers, and governmental entities as stakeholder representatives. Each group contributes a most diversified perspective and priorities which can influence policy significantly, accordingly. Then a specifically approach to stakeholder management is needed.
5. Stakeholder Diversity:
Attending participants not only present different traits but also have fluctuating factors like gender, desire, influence, etc. What the teams should do is not that difficult to understand, as it requires a respect of power dynamics, as well as involvement levels to make sure that the engagement goes on flawlessly and the project is accomplished successfully.