Stakeholders Expectations | Organizational stakeholders and their expectations

The people who are directly and indirectly affected by any change in operation of any organization or institutions are basically known as stakeholders. They are the most affecting persons for any change.

Therefore the stakeholder is the one who have an interest in organizational decision. The decision could be as individual or representatives of any group. It includes the people as well, who influence by the decision and also those who affected by it.

The stakeholder may represent from the community of

• investors
• consumers
• employees
• surveyors
• consumer panels
• management-labour negotiators.

The relations between the organization and stakeholders are provided in the codes of practice.

The codes usually open with a statement that in its dealings, the corporation (or member of a professional body) will always act with integrity, fairly and reasonably, the acceptance of a social responsibility to the community.

Thus the existence of codes implies a sense of obligation for the organization to behave in certain ways towards groups of people.

Stakeholders expectations and their main roles

Plan and Policy Development

The key stakeholder must play the role for the project to be successful. The stakeholders have specific interests in an organization because it benefits him. Or the project activities might cause damage or conflict for the stakeholder.

A stakeholder is involve in drawing up action plan(s) in light of review and new guidance. They share their views with key stakeholders via established forums or networks.

Quality Improvement Initiative

The role of stakeholder is very important in early stages of quality improvement initiative. In case, the stakeholder senses the quality initiative as a hamper to his interests, he might withdraw from the organization.

Hence, the organization develops strategies for obtaining support from the stakeholders.

Performance Monitoring for the Forward Planning Function

Last one periodic meetings are held between the organization and stakeholders for monitoring the performance and taking corrective actions.

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