Stakeholder management is the process of finding, studying, and working with people or organizations that have an impact on or are affected by an organization’s goals and projects. Good management makes ensuring that the needs and expectations of stakeholders are understood, met, and in line with the goals of the organization. Communication, negotiation, dispute resolution, and developing relationships are some of the most important talents. By being open, honest, and involved on a frequent basis, businesses can lower risks, make better decisions, and get better results from their projects. Good stakeholder management improves reputation, encourages teamwork, and makes sure that essential partners will be around for the long haul. To be successful in business, the public sector, and community projects, it is important to develop relationships and provide value to all stakeholders.
