Stakeholders and Stakeholder Mapping

This video explains the concept of stakeholder mapping.

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VIDEO CHAPTERS
0:00 Introduction
0:12 What is a Stakeholder?
0:29 Difference Between Stakeholders and Shareholders
1:31 Examples of Business Stakeholders
1:50 Stakeholders Have Different Interests in a Business
3:43 Potential Conflicts between Stakeholders
5:15 Stakeholder Power
5:58 Managing Stakeholder Influence and Power

VIDEO SUMMARY
This video is about stakeholders and stakeholder mapping.

Stakeholders are individuals or groups that have an interest in the activities and the decisions taken by a business. They can be internal stakeholders, such as employees and managers, or external stakeholders, such as customers, suppliers, the government, and society at large.

Shareholders are a specific type of stakeholder that owns the business. They are interested in the financial performance of the business, such as profits, dividends, and share price.

Stakeholders have different interests in the business, which can sometimes lead to conflicts. For example, a decision to introduce greater automation might be supported by shareholders if it leads to greater efficiency and profits, but it could be opposed by employees if it results in job losses.

Stakeholder mapping is a theory that helps businesses address the fact that stakeholders have different levels of power. The idea is that a business should spend more time responding to stakeholders who have a high level of power and a high level of interest in the business. These stakeholders should be kept informed and communicated with regularly. Stakeholders with low power and low interest do not need to be communicated with as often.