Business Stakeholders are people who make business decisions on behalf of the business. They have an influence over the company’s long-term success or failure, as well as their rights and responsibilities regarding how the business is run. In this article we will discuss the different types of stakeholders, their relationships, and their rights and duties. We will also look at other types of business relationships that can be considered a stakeholder relationship. We hope to cover the broad categories that define stakeholder relationships in business.
One type of business stakeholder is the Internal Stakeholder – this is the employees, managers, executives, and other employees who make important business decisions about how the company should be run. In business development theory, internal stakeholders provide a vital role in determining the organization’s direction. Therefore, in any organization there will always be a number of internal stakeholders that have an influence over the direction of the organization. These stakeholders will be considered external stakeholders in the same way that external stakeholders are considered external stakeholders in business development theory. They have a direct impact on the business. But unlike external stakeholders, internal stakeholders have a direct influence over the business, but because they are not part of the company, they are less influential and more likely to be overlooked by management.
Another type of stakeholder is the Local Community – this is the people in the local community who have a stake in the business, as well as some form of direct connection to it. Stakeholders are often called “stakeholders” because they have a vested interest in the business’s success or failure. For example, if the business has a service in a particular field that is good in the local area, then the service provider may become a stakeholder. This person may be a local business owner who is happy to pay taxes on property use, or a contractor who does quality work. Stakeholders have a variety of relationships with the business.
One way of categorizing stakeholders is to think of them in terms of relationships. The relationships can take the form of a dependence, like a “one-way relationship.” In this case, there is only one force-field that the stakeholder can depend on, and that relationship is the relationship between the business and its customers. A business can either satisfy or break the relationship with that one-way relationship. The other relationships in stakeholder analysis are broken by whether or not the business provides services to the customer or not.
In terms of the social responsibility of stakeholder relationships, the most important relationships identified are those that come under the categories of influence, access, and control. These are the relationships where the stakeholders can influence the management of the business through their behavior or the extent of their involvement. Access is the ability to affect the decision making or the content of the decisions by the stakeholders. This includes influencing the product, service, and the overall structure of the business.
Control is the ability to control or the ability to limit access to the decision making. It also refers to the ability of a business to ensure that an internal decision is made in the best interest of the business, that the resources of the business are utilized to their fullest extent, and that the external stakeholders receive what they deserve. There is a relationship between ethical minimums and the relationship between the internal and external stakeholders. If the business operates according to the ethical minimums then it is considered to be operating according to ethical standards.
The third category, social dynamics, includes the dynamics that occur within and between people. For example, the social network that a business leader develops with his external stakeholders will impact his internal thinking and his decision making process. A business development consultant can help business leaders identify their own personal social dynamics, and the business development consultant can help organizations identify how similar they could be to their external stakeholders. This helps them to better communicate with their external peers. A business development consultant also helps business leaders identify the problems that they may be facing in relation to management culture and values, and develop tools to address these issues.
The fourth key stakeholders group is related to the third key stakeholders group; that is, the welfare of the company’s key stakeholders. The welfare of the key stakeholders must be considered in the context of the company’s strategic direction and the business development strategy. When planning strategic processes, a business development consultant will conduct interviews and focus group discussions with key stakeholder groups to determine what their needs and wants are. Based on this information a business development consultant can create an effective strategic plan to benefit the key stakeholders and to strengthen the company’s overall stakeholder relationships.
danstheman
Dan Lewis is a business and finance consultant who stared is career with Capital One and worked as a business and finance analyst for over 25 before leaving the corporate world to create this blog.