What is a stakeholder? RIG concepts

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The first time the concept of stakeholder appeared in an article, in 1984, no one had any idea of ​​the importance that this figure would take on in the context of strategic company management.


University of Virginia Business Administration professor R. Edward Freeman used the term at the time to define the individual or institution that is affected by the actions of a given company. Freeman developed what is known as Stakeholder Theory and his propositions on the subject have been widely studied and adopted in various areas of knowledge.


The origin of the word stakeholder is the formation of a compound bahrain mobile database noun in stake , which in a free translation can be understood as a stick or stake, and holder, which means “the person who holds or owns something”. In context, the stakeholder is defined as the person who has an interest and is affected by a certain idea, action or thing.


Understanding the role of these individuals in the context of each company, product or campaign has become an important tool for building a strategy. Each agent within the context of organizations, whether internal or external, carries with them interests and demands that directly or indirectly impact decision-making processes.


The three uses by companies
Stakeholder Theory researchers generally consider three uses by companies of the concept of stakeholders :


Descriptive: when using descriptive terms, managers use the concept to identify and classify the impact of stakeholders within the context of each company.


Instrumental: when they use the instrumental aspect, they consider stakeholders as a possible management tool ( Stakeholder Management ).


Normative: the normative aspect is revealed when the senior management of a company recognizes and acts based on the interests of stakeholders and aligns common interests with the levels of influence of agents on the organization.


Individually or together, each of the agents aims to add value for the owners and for society in general . Therefore, the company that uses the roles of stakeholders as a strategic definition understands itself as an agent of impact on society. This society carries within itself the forces that set the organization in motion.