How should a business respond to variations in stakeholder power and influence?
To manage its stakeholders well, a business effectively to make choices. It is very difficult to meet the needs of every stakeholder group and most decisions will end up being “win-lose”: i.e. supporting one stakeholder means another misses out.
How should a business respond to variations in stakeholder power and influence? The matrix (stakeholder map) below provides some guidance on the approach often taken:
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