Bundle: Management, Loose-Leaf Version, 13th + MindTap Management, 1 term (6 months) Printed Access Card
Bundle: Management, Loose-Leaf Version, 13th + MindTap Management, 1 term (6 months) Printed Access Card
13th Edition
ISBN: 9781337502160
Author: Richard L. Daft
Publisher: Cengage Learning
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Chapter 5, Problem 9DQ
Summary Introduction

To determine:

If it is appropriate for management to define some stake holders as more important than other and whether all stake holders should be considered as equally important.

Concept Introduction:

The individuals or groups that are likely to affect or be affected by a proposed action of the organization are called as stake holders. The systematic approach that defines the primary stake holders like employees, customers, share holders, environment, government etc and identifying such key members is referred to as stake holder mapping.

Management needs to look from different angles like their potential threat, their interest, the influencing factors etc so as to define the key stake holders.

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