Lesson 1.pptx - To be successful… Unit: 3.2 Managers...

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Unit: 3.2 Managers leadership and decision makingSub unit: 3.2.3 Understanding the role and importance of stakeholdersTitle: Stakeholder MappingLearning Objective:Toidentifystakeholder needs, overlaps and conflict whenmaking decisionsSOLOlevelOneManyRelateExtendSuccessCriteriaIdentifystakeholderneeds, overlapsand conflict whenmaking decisionsTheinfluencesonthe relationshipwith stakeholdersTo analysehow tomanage therelationshipwith differentstakeholdersTo applyyourknowledge to aexam questionTo be successful…
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What are stakeholders?
Stakeholder needs and conflictEach group or stakeholder will have different ideas on what aims and objectives thebusiness should pursue.Each group will also judge success in a different way.In the short term a business may notbe able to please all stakeholders.For example, consumers want low prices and employees want high wages.Businesses are constantly faced with conflicting interests. A business must do its best tobalance these interests.Every decision the business takes involves risk. This risk should try to best balance thedemands of all stakeholders.

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Term
Spring
Professor
N/A
Tags
Decision Making, Stakeholder analysis, stakeholder mapping, C Shareholders

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