Stakeholders

Stakeholders

Stakeholders Jonathan Poland

Stakeholders are individuals or groups who have an interest or concern in something, especially a business. For example, in a corporation, stakeholders might include shareholders, employees, customers, and suppliers. The concept of stakeholders is important because it recognizes that a business has responsibilities not just to its shareholders, but also to other groups who are affected by its actions.

Investors
The owners of a business. Investors typically have a right to accurate and timely information such as regular financial statements. They may also have the right to approve or reject major decisions such as mergers & acquisitions.

Creditors
The creditors of a business typically have rights such as access to accurate and timely financial information.

Communities
The communities that are impacted by your business. For example, your impact on the quality of life, environment and economy of a city.

Trade Unions
Trade unions may be informed and consulted about things such as worker safety.

Employees
Employees and other individual contributors to your organization.

Governments
Government agencies such as regulatory bodies and taxation authorities.

Partners
Partners such as suppliers and distribution partners.

Customers
Customers who depend on your products and services.

Internal Stakeholders
Internal stakeholders are stakeholders by virtual of their role in your organization. For example, your board of directors, executive managers, auditors, business units, internal customers, operations teams, subject matter experts and users.

Competitive Differentiation Jonathan Poland

Competitive Differentiation

Competitive differentiation refers to the unique value that a company’s product, service, brand, or experience offers in comparison to all…

Product Quality Jonathan Poland

Product Quality

Product quality refers to the inherent characteristics of a product that determine its value to customers. It can include factors…

What is the Iterative Process? Jonathan Poland

What is the Iterative Process?

An iterative process is a method of working through a problem or project by repeating a series of steps, each…

Customer Avatar Jonathan Poland

Customer Avatar

A customer avatar, also known as an ideal customer profile, is a detailed description of the specific type of customer…

Sales Development Jonathan Poland

Sales Development

Sales development is a crucial part of the sales process that involves identifying potential buyers and developing qualified leads. This…

What is Throughput? Jonathan Poland

What is Throughput?

Throughput is a term used in business and engineering to refer to the rate at which a system or process…

Internet of Things Jonathan Poland

Internet of Things

The Internet of things describes physical objects with sensors, processing ability, software, and other technologies that connect and exchange data with other devices and systems over the Internet or communication networks.

Economic Change Jonathan Poland

Economic Change

Economic change refers to shifts in economic conditions, such as changes in GDP, employment rates, and prices. These shifts can…

Procurement Risk Jonathan Poland

Procurement Risk

Procurement risk is the risk of financial loss or other negative consequences that may arise from the process of procuring…

Learn More

Law of Demand Jonathan Poland

Law of Demand

The law of demand is a fundamental principle in economics that states that, all other factors being equal, the quantity…

Professionalism Jonathan Poland

Professionalism

Professionalism is the practice of following the standards and expectations of one’s profession, organization, and role. It involves upholding the…

What is the Broken Window Fallacy? Jonathan Poland

What is the Broken Window Fallacy?

The broken window fallacy refers to the idea that the economic benefits of destructive events, such as wars and natural…

Customer Advocacy Jonathan Poland

Customer Advocacy

Customer advocacy is a customer service strategy that involves employees representing and fighting for the interests of customers, rather than…

What is a thought experiment? Jonathan Poland

What is a thought experiment?

A thought experiment is a mental exercise that involves exploring the implications or consequences of a hypothetical idea, story, or…

What is a Capitalist? Jonathan Poland

What is a Capitalist?

A capitalist is an individual who supports or practices capitalism, which is an economic system based on the principles of…

Customer is Always Right Jonathan Poland

Customer is Always Right

The principle that “the customer is always right” is a widely used guideline in the business world to guide customer…

Reputational Risk Jonathan Poland

Reputational Risk

Reputational risk refers to the potential for damage to an organization’s reputation as a result of its actions or inactions.…

Incident Management Jonathan Poland

Incident Management

Incident management is a process that involves the organization and coordination of efforts to address and resolve information technology incidents.…