From the course: Stakeholder Management for Leaders and Managers
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Understanding stakeholder motivations and behaviors
From the course: Stakeholder Management for Leaders and Managers
Understanding stakeholder motivations and behaviors
- Stakeholders are motivated by a variety of different things. Depending on their role, interest, or connection to your organization, they may prioritize financial, strategic, personal, or broader social goals. For instance, investors may be motivated by financial returns, while employees may prioritize safety or company culture. When you understand what each group values, you can tailor communication and engagement strategies to address their concerns and goals. If a key stakeholder feels their needs are being considered, they're more likely to support a project. Meanwhile, if their interests are ignored or misunderstood, they can be a barrier to your success. Generally speaking, we can group the factors that motivate stakeholders into a list of four items. One, financial. Stakeholders such as investors, shareholders, and senior executives are motivated by financial outcomes. They may focus on cost control…
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