Page 23 - BA1 Integrated Workbook STUDENT 2018

Mission, vision and stakeholders

Stakeholder management

The process of managing stakeholders can be considered in three main steps.

2.1 Identification of stakeholders

Stakeholders are any individual or group with an interest in the
organisation and its strategies. As such they may attempt to influence its
mission, objectives and strategy.

The more power and interest the stakeholder has in the organisation, the greater its
involvement in setting the mission and strategy.

Braithwaite and Drahos identify a range of ‘actors’ who may have an influence on the
way an organisation conducts its business:

 Organisations of states – e.g. WTO, EU

 States – e.g. France

 Organisations formed by firms – e.g. Chambers of Commerce

 Corporations – e.g. HSBC

 Non-Governmental Organisations (NGOs) – e.g. British Standards Institute

 Mass publics

 Knowledge based communities

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