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Stakeholder analysis in conflict resolution, business administration, environmental health sciences decision making, [1] industrial ecology, public administration, and project management is the process of assessing a system and potential changes to it as they relate to relevant and interested parties known as stakeholders.
Numerous articles and books written on stakeholder theory generally identify Freeman as the "father of stakeholder theory". [14] Freeman's Strategic Management: A Stakeholder Approach (1984) is widely cited in the field as being the foundation of stakeholder theory, [15] although Freeman himself refers to several bodies of literature used in the development of his approach, including strategic ...
The definition of corporate responsibilities through a classification of stakeholders to consider has been criticized as creating a false dichotomy between the "shareholder model" and the "stakeholder model", [2] or a false analogy of the obligations towards shareholders and other interested parties.
In 1984, Edward Freeman’s book Strategic Management: A Stakeholder Approach was published. It brought to existence a complete body of knowledge surrounding the ethical management of stakeholders. [6] Soon thereafter, computers were used to facilitate the organizations' engagement with communities and stakeholder analysis.
The practitioners in stakeholder engagement are often businesses, non-governmental organizations (NGOs), labor organizations, trade and industry organizations, governments, and financial institutions. In a regional planning example in England, a line graph analysis of the relationship between these stakeholders over two decades has been ...
Project stakeholders are persons or entities who have an interest in a specific project.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, program, or portfolio. [1]:
Stakeholders can be divided into two main categories: Internal Stakeholders and External Stakeholders. Internal stakeholders can be considered the first line of action when it comes to implementing decisions in a company, due to the fact that they have direct influence on its organizational resources. [ 2 ]
In management, a stakeholder approach is the practice that managers formulate and implement processes that satisfy stakeholders' needs to ensure long-term success. [1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.