Stakeholders in Organization
Stakeholders are persons or entities which affected by organization or can affect organization. Stakeholders have their interests in the organization so they influence so protect their interests.
Types of Stakeholders
Internal
These are stakeholders inside the organization
- Employees
- Shareholders
- Directors
- Managers
Connected
These stakeholders are connected to organization by contracts
- Key Suppliers
- Key Customers
- Employees
External
- These stakeholders are outside organization
- People living nearby organization
- Government
- Local committees
- Media and Press
Conflict in Stakeholders
As stakeholders intensely affect org. they have some natural conflicts in them e.g shareholders want more profits but employees want more salaries, customers want 24/7 services but employee want to work only 5 days a week
So what org will do to resolve conflicts in stakeholders? Here comes the role of management. Effective management is one which effectively takes all stakeholders on board and then make or most of them satisfied by reasonable measures e.g negotiations