Stakeholder management is a field of thought or discipline, wherein
the fate of stakeholders is managed or handled so that (when change
is initiated) the status of stakeholders remains stable.
Stakeholder management change thus pertains to any change in the
continuous process of managing the fate of stakeholders. All
organizations have stakeholders, regardless of the size of the
organization or the number of members that make up the organization.
When you say someone is a stakeholder, it means that person has
interests (financial or otherwise) in the organization so that when
stakeholder management change is initiated that person is affected
One of the organizations from which it is easiest to identify
stakeholders would be a business. The stakeholders in a common
business would be the investors and/or shareholders who first put up
the capital to start the business; the clients or customers who buy
or patronize the goods and/or services of the business; the employees
who produce the goods and/or manage the service being offered; the
suppliers who also benefit from doing business with the company in
question; the government agencies which rely on the business to
provide taxes which keeps the government running; surrounding
communities which are affected somehow by the operations of the
business; and even business rivals in the same line of business.
Stakeholder management change would occur when somehow the
organization has changed the activities that it uses to manage the
fate of each of these stakeholder groups. For example, when the
organization asks employees to offer a new product to the clients or
customers, that means stakeholder management change has affected the
following stakeholder groups: the employees, the clients or customers,
and even the business rivals. If the product becomes an in-demand
product among customers, there is another change wrought in the case
of the investors and stakeholders who would find their initial
investment profitable after all.