Public Stakeholder Stakeholder means a person who owns shares in the company and is actively involved in the management of the company or business and exercises control over the company.
Who are the stakeholders in public policy?
Stakeholders are those who may be affected by or have an effect on an effort. They may also include people who have a strong interest in the effort for academic, philosophical, or political reasons, even though they and their families, friends, and associates are not directly affected by it.
What are the 4 stakeholder groups?
- Group 1 – Manage Closely. These are the leaders with the highest degree of interest and influence over your initiative. ...
- Group 2 – Keep Satisfied. These are leaders who have less interest than Group 1 – maybe because they’re not impacted as directly or have a smaller team that will ...
- Group 3 – Keep Informed. ...
- Group 4 – Monitor. ...
Who are actors and stakeholders in public policy making?
public policy. Those involved in this category are the legislators, the executive, the administrators and the judiciary. Each of them performs policy-making responsibilities in a different way from the others. They are governmental actors who occupy formal public positions and political offices and serve as the actual policy makers.
What are the duties of a stakeholder?
What are the duties of the Stakeholders in Project Management?
- The Creditors who finance or provide resources.
- Directors, who format the planning and implementation process.
- The Government Agencies for sanctioning of various requirements and providing infrastructure facilitation.
- Shareholders (Owners) who Invest or promise to further invest the Owner's capital.
What are private and public stakeholders?
(C) Public and private stakeholders . — The term “public and private stakeholders” means Federal, State, and local agencies, tribal governments, and appropriate private entities, including nonprofit employee labor organizations representing transportation employees.
What are publics audiences stakeholders?
Identify Your Audience Identifying the stakeholders and key publics within that audience will allow you to prioritize the use of communication resources. A stakeholder is any group or individual who is affected by or can affect the achievement of an organization's objectives.
What is the difference between stakeholders and public?
Grunig and Repper differentiated the terms “stakeholder” and “public” in the following way: Organizations choose stakeholders by their marketing strategies, recruiting, and investment plans, but “publics arise on their own and choose the organization for attention.”Grunig and Repper (1992), p. 128.
Is the general public a stakeholder?
The general public can be a stakeholder, for example a project that involves closing a road. But for most projects the general public is not a stakeholder until something adverse happens that causes cost or inconvenience to the general public.
What are examples of publics?
the various groups in a society which can influence or bring pressure to bear upon a firm's decision making and have an impact upon its marketing performance; these groups include the financial public, media public, government public, citizen action public, local public, general public and international public.
What are examples of key publics?
7 KEY PUBLICS.INTERNAL.LEGISLATIVE/REGULATORY.COMMUNITY.STAKEHOLDERS.CUSTOMERS.VISITORS.MEDIA.
Why is the public a stakeholder?
The public are considered stakeholders as they are very likely to be impacted by the actions your organisation takes. For example, local and central government can affect the public financially through taxes and through other means such as roadworks, housing, social care etc.
What are the 4 types of publics?
According to the situational theory of publics, he categorized publics into four groups: non-public, latent public, aware public, and active public.
What are the four types of stakeholders?
The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers.
What are the 5 stakeholders?
Types of Stakeholders#1 Customers. Stake: Product/service quality and value. ... #2 Employees. Stake: Employment income and safety. ... #3 Investors. Stake: Financial returns. ... #4 Suppliers and Vendors. Stake: Revenues and safety. ... #5 Communities. Stake: Health, safety, economic development. ... #6 Governments. Stake: Taxes and GDP.
What is a stakeholder example?
A stakeholder can be a wide variety of people impacted or invested in the project. For example, a stakeholder can be the owner or even the shareholder. But stakeholders can also be employees, bondholders, customers, suppliers and vendors. A shareholder can be a stakeholder.
Who are stakeholders in public health?
The stakeholders in public health include; patients, the public, community, government, pharmaceuticals, schools, specialists, government, international bodies, research supporters.
What are different types of stakeholders?
The 10 different types of stakeholders:Suppliers.Owners.Investors.Creditors.Communities.Trade unions.Employees.Government agencies.More items...•
What are stakeholders examples?
Typical stakeholders are investors, employees, customers, suppliers, communities, governments, or trade associations. An entity's stakeholders can be both internal or external to the organization.
Who are publics in public relations?
In public relations and communication science, publics are groups of individual people, and the public (a.k.a. the general public) is the totality of such groupings.
How do you communicate to audiences and stakeholders?
7 ways to effectively communicate with your stakeholdersIdentify key stakeholders and plan communications. ... Email and e-newsletters. ... Communication automation. ... Presentations. ... Project Summary Reports. ... Group video call or 'screen to screen' meetings. ... Leverage informal stakeholder communications.
What Is a Stakeholder?
A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers.
What Are Examples of Stakeholders?
Examples of important stakeholders for a business include its shareholders, customers, suppliers, and employees . Some of these stakeholders, such as the shareholders and the employees, are internal to the business. Others, such as the business’s customers and suppliers, are external to the business but are nevertheless affected by the business’s actions. These days, it has become more common to talk about a broader range of external stakeholders, such as the government of the countries in which the business operates, or even the public at large.
Why Are Stakeholders Important?
For internal stakeholders, they are important because the business’s operations rely on their ability to work together toward the business’s goals. External stakeholders on the other hand can affect the business indirectly.
What is the problem with a company with multiple stakeholders?
A common problem that arises for companies with numerous stakeholders is that the various stakeholder interests may not align. In fact, the interests may be in direct conflict. For example, the primary goal of a corporation, from the perspective of its shareholders, is to maximize profits and enhance shareholder value.
What is an investor in a venture?
Investors are internal stakeholders who are significantly impacted by the associated concern and its performance . If, for example, a venture capital firm decides to invest $5 million in a technology startup in return for 10% equity and significant influence, the firm becomes an internal stakeholder of the startup. The return on the venture capitalist firm's investment hinges on the startup's success or failure, meaning that the firm has a vested interest .
What is a stakeholder in a company?
A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers, and suppliers. However, with the increasing attention on corporate social responsibility, the concept has been extended to include communities, ...
What is an internal stakeholder?
Internal stakeholders are people whose interest in a company comes through a direct relationship, such as employment, ownership, or investment.
What is the difference between a shareholder and a stakeholder?
This is an important distinction to make. A stakeholder is anyone who has any type of stake in a business, while a shareholder is someone who owns shares (stock) in a business and thereby has an equity interest.
What is a stakeholder in business?
What is a Stakeholder? In business, a stakeholder is any individual, group, or party that has an interest in an organization and the outcomes of its actions. Common examples of stakeholders include employees, customers, shareholders. Stockholders Equity Stockholders Equity (also known as Shareholders Equity) is an account on a company's balance ...
What is stockholders equity?
Stockholders Equity Stockholders Equity (also known as Shareholders Equity) is an account on a company's balance sheet that consists of share capital plus. , suppliers, communities, and governments. Different stakeholders have different interests, and companies. Corporation A corporation is a legal entity created by individuals, stockholders, ...
What is the role of CEO?
The CEO is responsible for the overall success of an organization and for making top-level managerial decisions. Read a job description. , and the board of directors to determine the appropriate ranking of stakeholders when competing interests arise.
Why do businesses exist?
Many would argue that businesses exist to serve their customers . Customers are actually stakeholders of a business, in that they are impacted by the quality of service/products and their value. For example, passengers traveling on an airplane literally have their lives in the company’s hands when flying with the airline.
What is the CEO of a publicly traded company?
At the end of the day, it’s up to a company, the CEO. CEO A CEO, short for Chief Executive Officer, is the highest-ranking individual in a company or organization.
What does a supplier do?
Suppliers and vendors sell goods and/or services to a business and rely on it for revenue generation and on-going income. In many industries, suppliers also have their health and safety on the line, as they may be directly involved in the company’s operations.
Stakeholder Identification and Analysis
Stakeholders are the people, communities, entities, and organizations affected by an activity and able to influence the impact of said activity. As a result, it is critical that they are included in any decision making process.
Engaging Stakeholders
Before in-person planning meetings with stakeholders, develop and gradually implement educational sessions for various stakeholder groups. These can take the form of interactive workshops, panels, lectures, etc.
Managing Stakeholders
When planning meetings, consider starting with a charrette process.
Best Practices & Resources
Below is a list of best practices from a variety of Area-Wide Planning Projects that received EPA grants for Brownfield Revitalization in 2010 and 2013. Keep in mind that these should guide rather than fully determine the strategies adopted by your specific project.
Why identify and analyze stakeholders and their interests?
The most important reason for identifying and understanding stakeholders is that it allows you to recruit them as part of the effort. The Community Tool Box believes that, in most cases, a participatory effort that involves representation of as many stakeholders as possible has a number of important advantages:
Who are potential stakeholders?
As we discussed, there are primary and secondary stakeholders, as well as key stakeholders who may or may not fall into one of the other two categories. Let’s examine possible stakeholders using that framework.
Why should stakeholders be involved in participatory process?
If you want to involve stakeholders in a participatory process, the reasons are obvious. They should be part of every phase of the work, so that they can both contribute and take ownership.Their knowledge of the community and understanding of its needs can prove invaluable in helping you to avoid mistakes in your approach and in the people you choose to involve.
Why is stakeholder analysis important?
Stakeholder management is where analysis and practice meet. It allows you to use the analysis to help gain support and buy-in for your effort. Although, as we’ll see, it can be quite helpful in health and community work, the stakeholder analysis model we’re using comes out of business, and is largely meant to help people make sure to get the power on their side for any project they attempt. Community-based and community-focused organizations and institutions may be more likely to have other purposes in mind when the issue of stakeholder management arises.
What is a stakeholder in a project?
Stakeholders are those who may be affected by or have an effect on an effort. They may also include people who have a strong interest in the effort for academic, philosophical, or political reasons, even though they and their families, friends, and associates are not directly affected by it.
What is a community toolbox?
The Community Tool Box is a big fan of participatory process. That means involving as many as possible of those who are affected by or have an interest in any project, initiative, intervention, or effort. We believe strongly that, in most cases, involving all of these folks will lead to a better process, greater community support and buy-in, more ideas on the table, a better understanding of the community context, and, ultimately, a more effective effort. In order to conduct a participatory process and gain all the advantages it brings, you have to figure out who the stakeholders are, which of them need to be involved at what level, and what issues they may bring with them. The same is equally true whether you’re building support for a new or ongoing effort, even if the process that led up to it wasn’t strictly participatory.
How to characterize stakeholders?
One way to characterize stakeholders is by their relationship to the effort in question. Primary stakeholders are the people or groups that stand to be directly affected, either positively or negatively, by an effort or the actions of an agency, institution, or organization.
How does a primary care physician play a role in reducing healthcare costs?
Physicians play a key role in ensuring that their patients receive adequate healthcare, but also in controlling the rising costs of healthcare. They have to find a balance between having a gatekeeper role for the insurance companies and being an advocate for the patient. Assigning a gatekeeper role to primary care physicians had the intention of lowering healthcare costs because fewer tests and referrals would be made. However, this is not working and it may be best to re-evaluate the role a primary care physician has in regards to referring patients. A coordinator role may be more beneficial than gatekeeper status. Also, since primary care physicians have increased the number of patients seen in a day to compensate for their decrease in revenue, this causes an increase in defensive diagnostic testing. The doctors do not have adequate time to review the chart or spend time with the patient, so they order more tests to reduce their liability risks. These actions cause healthcare spending to increase as well. By placing the physician between these two roles, a conflict of interest is created. Ethically, the doctor has a fiduciary duty to protect the interests of his patient, but in the current managed care environment, insurance companies give incentives to physicians to order fewer referrals and to cram more patients into each workday. Edmund Pellegrino stated, “What our health policies do to the individual patient serves as a reality check to what values we hold most dear and the ethical foundation of the policies we develop and impose”. It appears that money is at the center of our values.
What are the stakeholders in healthcare?
The major stakeholders in the healthcare system are patients, physicians, employers, insurance companies, pharmaceutical firms and government. Insurance companies sell health coverage plans directly to patients or indirectly through employer or governmental intermediaries. Pharmaceutical firms develop and then market medications which are prescribed by doctors to treat patients. Typically they receive remuneration through insurance or governmental drug-benefit plans. Many employers offer health insurance coverage with varying deductibles and co-pays for their employees. Physicians are the providers of medical care; patients are the recipients. And government subsidizes healthcare for the elderly, the disabled and the poor. All stakeholders have duties and responsibilities.
What are the stakeholders of pharmaceutical companies?
Two of the stakeholders, pharmaceutical firms and insurance companies, are publically owned corporations listed on the stock exchange. Their primary responsibility is to maximize stockholder wealth. Likewise, the primary goal of employers is to make money; however, their provision of health insurance for employees is a benefit, ...
Why do primary care physicians have gatekeepers?
Assigning a gatekeeper role to primary care physicians had the intention of lowering healthcare costs because fewer tests and referrals would be made . However, this is not working and it may be best to re-evaluate the role a primary care physician has in regards to referring patients.
What are the rights of the Declaration of Independence?
The Declaration of Independence seems to juxtapose two rights: the right to equality and the right to liberty. Equalitarians emphasize the former; libertarians, the latter. Equalitarians hold that healthcare is a human right; libertarians hold that healthcare is a commodity. Equalitarianism emphasizes the role of government and is more appealing to democrats; libertarianism emphasizes the role of free market and is more appealing to republicans. The fundamental chiasm between these two contrasting ideologies which are operative in American culture remains an impediment to healthcare reform in the United States. SEE: How 5G Networks Will Affect Healthcare
What is the obligation of a physician?
Physicians also have obligations to patients independent of insurance companies. A physician has an obligation of beneficence to do whatever is necessary to benefit his patient. However if he acts independently (“doctor knows best”) without taking into account the desires of his patient, he is practicing paternalism. Thus, the obligation of beneficence must be balanced by the principle of patient autonomy. Each patient is unique and has the right to participate completely in decisions about his health.
Why is healthcare becoming harder to obtain?
Adequate healthcare is becoming harder to obtain due to financial hardship. The insurance companies need to find an appropriate balance between their responsibilities towards both shareholders and patients. Quarterly reports for stockholders encourage the companies to focus more on profits than affordability.
Types of Stakeholders
Ranking/Prioritizing Stakeholders
- Companies often struggle to prioritize stakeholders and their competing interests. Where stakeholders are aligned, the process is easy. However, in many cases, they do not have the same interests. For example, if the company is pressured by shareholders to cut costs, it may lay off employees or reduce their wages, which presents a difficult tradeoff. Jack Ma, the CEO of Alibab…
Stakeholder vs Shareholder
- This is an important distinction to make. A stakeholder is anyone who has any type of stake in a business, while a shareholder is someone who owns shares(stock) in a business and thereby has an equity interest.
Additional Resources
- Thank you for reading CFI’s guide to Stakeholder. To keep learning and advancing your career, the following CFI resources will be helpful: 1. Free Introduction to ESG Course 2. Corporate Structure 3. Shareholder Primacy 4. Bargaining Power of Suppliers 5. Fixed and Variable Costs