Be Aware of the Stakeholders in Your Business—Or You May Regret It
In the good old days, business owners believed that as long as they served their customers effectively and made sure that their stock maintained or increased its value, all was taken care of. However, it's now part of the norm that business owners not only have to please their customers and shareholders, but also be concerned with their stakeholders. A large part of the success of your business and its related projects depends on getting stakeholders to “buy in.” At the very least, you don't want to engage in stakeholder disputes that could lead to unanticipated expenses, bad publicity, delays in projects, and litigation. Keep reading to better understand who the stakeholders in your business could be.