CHAPTER 5

Stakeholder Management: Exceeding Expectations

All stakeholders must participate in the gains and losses of any situation

—Christine Lagarde

Stakeholder management is a key activity for any business. It is a critical process for all business activities that must be well thought out and planned for. Keeping every stakeholder happy, despite potentially differing priorities, expectations, and objectives, is vitally important, can be difficult and can, at times, be thankless.

The first step is to identify who your stakeholders are or are likely to be. A stakeholder is anyone who has interest in the success or failure of the business, anyone with power and influence over the business, and anyone who may be directly or, sometimes, perceive ...

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