Leadership Essentials: Engaging Stakeholders
Stakeholders are individuals, groups or organisations that are affected by the activity of the organisation. Stakeholder theory challenges the idea that only the values of an organisation’s owners, directors or shareholders should determine its strategic direction. The theory recognises that other parties are important in determining the functions and the success of a business or organisation, i.e. its stakeholders.
‘Leadership Essentials: Engaging Stakeholders’ provides an overview of why engagement with stakeholders is essential for leadership capability and includes ‘Top Tips’ on how stakeholder management can help you become a better leader.
The Essentials leaflet is supported by three Spotlights that look at stakeholder management in more detail to help you improve your leadership skills:
- Recognising Stakeholders
- Stakeholder Theory
- Managing Stakeholders
"Stakeholder Management is essentially stakeholder relationship management as it is the relationship and not the actual stakeholder groups that are managed."
Friedman L and Miles S, 2006
"The stakeholder concept provides a new way of thinking about strategic management - that is, how a corporation can and should set and implement direction."
R. Edward Freeman (1984)