Expertise

The importance of effective stakeholdermanagement

20-07-2021

Stakeholdermanagement is the process of developing and maintaining relationships with stakeholders, also known as stakeholders, and is a crucial part of successfully positioning any organisation in the environment in which it operates. Stakeholders include politicians, regulators, governments, NGOs and media, as well as customers, suppliers, employees and shareholders.

Why is stakeholder management important?

The importance of stakeholder management lies in effectively identifying the needs, expectations and concerns of stakeholders in order to better understand the organisation’s playing field and develop effective public affairs strategies on that basis. This includes determining which stakeholders to build or strengthen relationships with and how best to do so. By engaging with stakeholders, organisations can also improve their relationships and reputations, create greater mutual understanding and better identify opportunities and challenges.

Effective approach

Effective stakeholder management requires a proactive and integrated approach, where the organisation takes into account the interests of all stakeholders and considers this when making decisions and carrying out activities. This can help achieve long-term sustainable results. And that is where we would be happy to help organisations – for example, by developing and implementing the best possible strategy.

Curious about what Public Matters can do for your organisation? Please do not hesitate to contact us.

"By engaging with stakeholders, organisations can also improve their relationships and reputations, create more mutual understanding and better identify opportunities and challenges."

Public matters

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