Stakeholders are individuals, organizations, and entities that have substantial interests and play a crucial role in the success of any project or business; their interests and concerns need to be seriously considered and addressed. Stakeholders are divided into internal groups, like employees and investors, and external ones, like customers and government agencies. In this article, I will identify stakeholders, present examples of internal and external stakeholder groups, explore their crucial roles and interests, and then explain how to prioritize stakeholders with a strategic guide according to their influence and interest in a project or business.
Identifying Stakeholders
Examples of internal stakeholders:
Employees are at the heart of any project or business directly affected by the changes it brings; their skills, dedication, and feedback can influence the project’s or business's success. Investors are another important group that provides the financial resources for the project or business; they are interested in the project’s potential return on investment, and regular project’s progress and performance are crucial to keeping them engaged…
