If you have a company, you must understand that success depends on many elements and that even the smallest factor can have a noticeable impact on your results. Years ago it was already identified that the optimal relationship with the public of interest (or stakeholders ) that is related to your business, is one of the most important factors.
Familiarizing yourself with this term and the idea behind its meaning can give your business the necessary boost. Helping you to predict and solve certain problems or better understand the relationship between your company and various groups of people who are involved with the strategies of your project.
That is why in this post we will talk about what stakeholders are and how they can impact the results of your company. In addition, we will see the types that exist and if there is a difference with the so-called shareholders.
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What are stakeholders?
Types of stakeholders
What impact can stakeholders have on your business?
Stakeholders and shareholders: how are they different?
What are stakeholders?
The English term stakeholders is translated into Spanish as “ interest groups ” (or also as “ interested parties ”). It was officially coined to refer to all the people and entities that in one way or another are affected by the activities of a company, both negatively and positively.
The intention here is that the managers who make the decisions regarding the activities to be carried out, also consider the impact that these will have on the “stakeholders” .
This idea began to be contemplated during the 1960s when the SRI ( Stanford Research Institute ) carried out a study in which it supported the relevance that all the people who were related to it had for companies.
Among these were the workers, the partners, the competition, the community, the consumers and even the Government .
That is, all those individuals or entities in which the company influenced and vice versa.
However, it was not until 1984 that Robert Edward Freeman, an American mathematician and philosopher, used this term to group all these people into a single identification and use it as the name of the theory of interest groups.
Since then, it is one of the key ideas for any company to be successful in its market.
Types of stakeholders
As the word stakeholder has such a broad meaning, over the years nuances have been established between stakeholders. With this, it has been possible to work on them in order of priority according to the relationship they have with the company.
Types of stakeholders
Today there are 4 types of interest groups:
1. Primaries
In this group are those who are directly affected by the company's activities, especially economically.
It encompasses shareholders, customers, workers, and partners , to name a few.
2. Secondaries
They are those who are affected by the actions and decisions of the company, but indirectly ; therefore, it is a much larger and more populous group.
Among those that can be mentioned are the competition, the market, the media, the community, political and religious organizations, as well as unions and financial entities .
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3. Internal
In this case we are talking about the people Photo Editing Services who belong to the nucleus or structure of the company and are interested in keeping it in optimal operation .
They are closely related to the primaries, only here the objectives of the interested party are considered, rather than the economic aspect.
Here we find the shareholders, employees, the board of directors, the owners and the partners . Although the objectives of these may be different, the final goal is the same.
For example, perhaps shareholders prioritize optimal utilization of capital, while an employee wants to move up.
Although they are different, they both want the company to do well so that they can also benefit.
To carry out an internal analysis of your company, it may be interesting to use tools such as the Porter Value Chain .