A stakeholder is a servant or a whole party who works for a company and plays its best role in bringing it to fruition. A stakeholder is a party that works hard for a project because it has its own interests in it, directly or indirectly. A stakeholder's party usually consists of employees, customers and suppliers. But the rest of the people are involved to get it out to more people.
You should know that each of you is a stakeholder directly or indirectly because you will come to believe when we talk about it later. Today we will talk about two major stakeholders. I think you should read this whole article to make your project. It will help you a lot.
Primary stakeholders:
The stakeholders who actively take part in any phase
(planning, execution, controlling and closure) of a project and also who are
actually entitled for end result of a project are called primary stakeholders.
Such as, supplier, consumer, sponsors, employees, etc.
Example Of Primary or Internal Stakeholder:
You should know that all those who invest in the project and all the employees who work on the project are known as Primary stakeholders.
For example, if you want to set up a large company, you have to get approval from the government first, and then you have to find employees for it. Project managers will be needed, and money will also be needed, they are all internal or primary stakeholders.
This is because they all relate to the project for their own benefit and they rely entirely on the outcome.
Types of primary or internal stakeholder:
Project Manager:
The project manager is responsible for everything from the beginning to the end of the work. He will be fully responsible for the loss and benefit and he will be accountable to the project owner for everything.
Sponsor:
You will find that it takes a lot of money to do any work and that is the purpose of the people, the job of the sponsor is to give money and usually the sponsors are the owners, who bring it from anywhere. And it is his responsibility.
Project Steering Committee:
We can also call the project steering committee the project board, this committee is mostly for large projects which are for a longer period of months and years.
Their work is very important. They can turn the whole project in the right direction for the betterment of the project. And they are responsible if it damages the project. Most of these people are highly experienced people who have more experience in their field.
Client/Customer:
For whom you are building your service or product, if your service or product does not please your customers, all your hard work may be wasted and your instrument may be wasted, so some people think of it as indirect. And some people consider them indirect. However, it is very important to take care of them.
Project team:
You will know that in any project the officer only orders the work done by the project team no matter what type of project. Their responsibility is also very important and big because the entire project depends on them to be completed.by the way, all the project teams are the same, but everyone has a different job.
Suppliers/vender:
Different types of companies on the other side of the project that are involved in the project for their own benefit, their job is to meet the needs of each type of project and they are all people from the other company.
Project Contractor:
Most of this work is done in construction projects. You can call it the key to the whole project. For example, if you want to make a software, this work can only be done by these project contractors and the whole project depends on it.
Project Consultant:
These are the people who are very expert about the project and they have a lot of knowledge about your project and all these people who are working on the project are fully aware of the project. I guide.
Project Champion:
There is a servant who helps every project official and his work is for all big projects. The job of the project champion is to make a commitment on the whole project whether our project is working properly or not and this is benefiting us that we are going in the wrong direction.
Secondary Stakeholders:
The stakeholders who affect a organization externally or affected by the project end results are called secondary stakeholders.
This affection may be positive or negative. Such as Gove. may increase interest rates to control money supply, hence resulting in decreasing of interest revenue for financial institution involved in money lending. So for a financial institution govt. is a secondary stakeholder that affected it negatively.
At the same time for the govt. financial institutions are secondary stakeholders those are affected negatively.
Example Of Secondary or external Stakeholder:
External Stakeholders As you may know from the name, they are not affiliated with the company but are external stakeholders. All those people who are affected by the business and choose it for themselves.
For example, in a country where you run a company, your company affects the people living in that country in any way, whether mentally or as a pollution, or for their benefit. But keep in mind that these do not directly affect the project but can certainly affect it indirectly.
Types of Secondary or external Stakeholder:
Comparator:
You must take care of your competitor because if your company's competitors are better than yours then your company may be affected immensely but indirectly. This will make you better at your company.
Tourists:
You should know that if your company is big and good then people are more inclined towards your country. And people come to your country from other countries and it is definitely great and beneficial for you. But remember, it will not benefit you personally but will benefit you externally, i:e. your country.
The Media :
You have to remember that there are people who are against your success who are your opponents, of course they can use the media to defame you, you should be aware of that and take care of it. They do not seem to harm you, but they try to harm you from behind. It also benefits you.
Families :
You should know that there are a lot of people connected to your company and they can be your team members, it is your responsibility to take care of them then you will benefit and you will There is no harm in indirect but can be indirect.
Also, take care of families who are not members of your team. This is your personal responsibility.
Why to manage & engage stakeholders?
Each and every stakeholder expects something different from
the organization in pursuit of their own interest, taking risks and receiving
benefits in return.
Some of these can feel free to withdraw any time when the
conditions are no longer favorable but some of them are in contractual
agreement with organization. Now it is up to the organization that how it
manage and protect the interest of stakeholders either those are in contractual
agreement or not.
We know that communication is key to success and if an
organization is being in contact with its stakeholders, this will help it to
identify different kind of perception they have. By communication and
interacting with stakeholders an organization will able to know its strength,
weakness, consumers need, degree of product satisfaction, stakeholders
expectation, and making them involved in decision making process will
ultimately turn stakeholders loyal to organization whether these are consumers,
employees, sponsors, etc.
in return they will make every effort to do better
things and so helping the organization to remain completive in long run.
Conclusion:
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