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– Nelson Mandela

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Unit 7 DB Stakeholder Importance

Unit 7 DB Stakeholder Importance

Q • Who is a stakeholder and why are they, and their voices, important? • As a stakeholder in Post University, next week in all your courses you are going to be asked to complete your student survey. Big deal… Why should your instructors care about what you have to say? Why should Post care about what you have to say? What difference can you, or any stakeholder make by conveying your thoughts to the company you’re a stakeholder in? Is there a better way to reach for a result or action from the company? • If you own the company, why should you listen to feedback regarding improvement for the company you have poured you heart, soul, and monies into?

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Any individual or association/organization/external affiliation considering/observing the profit margins of an organization seriously and becoming affected by the growth/popularity and profits of an organization is known as a stakeholder (Hill et al. 2020). It is important to identify the importance of every stakeholder because there are monetary investments made by some stakeholders. Therefore, when such stakeholders are dissatisfied, they might consider doing monetary investments for other organizations or stop doing such investments for the already associated organization. Examples of stakeholders making monetary investments are investors, sponsors, etc. (Naraine & Parent, 2020).