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In a case study, what is the purpose of identifying stakeholders?

Practice Questions

Q1
In a case study, what is the purpose of identifying stakeholders?
  1. To determine the company's profit margins
  2. To understand the impact of decisions on various groups
  3. To analyze competitor strategies
  4. To set pricing strategies

Questions & Step-by-Step Solutions

In a case study, what is the purpose of identifying stakeholders?
  • Step 1: Understand what stakeholders are. Stakeholders are people or groups who are affected by or can affect a project or decision.
  • Step 2: Identify who the stakeholders are. This can include employees, customers, suppliers, and the community.
  • Step 3: Recognize the interests of each stakeholder. Each group may have different needs and concerns regarding the project.
  • Step 4: Analyze how decisions will impact each stakeholder group. This helps in understanding potential positive or negative effects.
  • Step 5: Use this information to make better decisions. Knowing the stakeholders' interests helps in planning and managing the project effectively.
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