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Stakeholder Management Strategies
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Flashcards
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Customers
Develop continuous feedback mechanisms to ensure their needs are met
Suppliers
Foster strong partnerships and regular communication to ensure reliable supply chain
Employees
Involve employees in decision-making and provide growth opportunities
Investors
Provide transparent and regular financial reporting to maintain trust
Community
Engage in Corporate Social Responsibility (CSR) to build a positive brand image
Government
Ensure compliance with regulations and engage in policy dialogue
Competitors
Monitor actions of competitors and seek opportunities for collaboration or differentiation
Project Team
Promote team cohesion and clear communication to ensure project objectives are achieved
Project Sponsor
Keep the sponsor informed of progress and challenges to ensure continued support
Media
Use media relations to shape public perception and maintain a positive image
Trade Unions
Negotiate fairly with trade unions to prevent disputes and strikes
Regulatory Bodies
Regularly engage with regulatory bodies to ensure project complies with all standards
Interest Groups
Understand the interests and concerns of these groups and incorporate their feedback where possible
Shareholders
Maximize shareholder value through strategic project selection and execution
End Users
Gather user requirements and feedback to enhance product/service quality
Internal Stakeholders
Ensure that internal stakeholders have a clear understanding of project goals and updates
External Stakeholders
Effectively manage expectations and communicate impacts of the project to external stakeholders
Power/Interest Grid
Map stakeholders according to their power and interest to prioritize engagement
Stakeholder Engagement Plan
Create a detailed plan to interact with stakeholders throughout the project lifecycle
Stakeholder Analysis
Analyze stakeholders to understand their influence, impact, and attitudes towards the project
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