Stakeholders in business organisations

In this lesson

1. 0:00 Introduction to stakeholders and definitions
2. 1:07 Agency theory: principals and agents explained
3. 5:11 Stakeholder groups: internal, connected, external
4. 9:18 Internal stakeholder expectations and objectives
5. 12:00 Connected stakeholder expectations and roles
6. 16:25 External stakeholder expectations and society
7. 20:12 Conflicting stakeholder interests with examples
8. 23:12 Exam question: balancing conflicting interests
9. 26:04 Mendelow's Matrix: power and interest framework

About this lesson

The session covers the definition of stakeholders, agency theory and its implications for shareholder-director relationships, and how different stakeholder groups (employees, managers, customers, suppliers, shareholders, authorities, and communities) have distinct and often conflicting objectives. You'll explore practical frameworks for understanding stakeholder dynamics, including how managers balance competing interests between groups like shareholders seeking long-term value and employees wanting fair compensation. The lesson includes worked examples of conflicting expectations—such as managers pursuing short-term bonuses versus shareholders' long-term growth strategies—and demonstrates how to apply these concepts to exam questions. The session concludes with Mendelow's Matrix, a strategic tool that maps stakeholders by their level of power and interest in the organisation. You'll learn how to categorise stakeholders from minimal-effort groups through to key players requiring constant engagement, and how to tailor communication and management strategies accordingly. This framework is essential for understanding stakeholder management in real business scenarios and for tackling case study questions in your qualification.

Duration: 29m