Stakeholder

Stakeholder may refer to:

See also

Project stakeholder

According to the Project Management Institute (PMI), the term project stakeholder refers to, ‘an individual, group, or organization, who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project’ (Project Management Institute, 2013).

Project stakeholders are entities that have an interest in a given project. These stakeholders may be inside or outside an organization which:

The following are examples of project stakeholders:

Rather than focusing on one subset of stakeholders, Dr. Lynda Bourne advocates prioritizing all stakeholders and focusing your attention on the ‘most important’ at this point in time. Her view of importance encompasses an assessment of the power, proximity and urgency associated with each stakeholder. The Stakeholder Circle methodology is described in her Doctoral thesis: Project Relationship Management and the Stakeholder Circle.

Stakeholder (corporate)

A stakeholder or stakeholders, as defined in its first usage in a 1963 internal memorandum at the Stanford Research Institute, are "those groups without whose support the organization would cease to exist." The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR). A corporate stakeholder can affect or be affected by the actions of a business as a whole.

The term has been broadened to include anyone who has an interest in a matter.

Applications of the term

Examples of a company's stakeholders

Types of stakeholders

Any action taken by any organization or any group might affect those people who are linked with them in the private sector. For examples these are parents, children, customers, owners, employees, associates, partners, contractors, and suppliers, people that are related or located nearby.