What is the first step in stakeholder prioritization?
A)Act as quickly as is prudent to satisfy as many stakeholders as possible.
B)Analyze the nature of the issue.
C)Identify and engage the set of stakeholders that are relevant to the firm.
D)Prioritize among competing stakeholder interests and demands.

Question

Quizplus · Accepted Answer

The first step in stakeholder prioritization is to identify and engage the set of stakeholders that are relevant to the firm. This will help to ensure that all stakeholders are considered and that their interests and demands are taken into account in the decision-making process. Once the relevant stakeholders have been identified, the next step is to analyze the nature of the issue and then prioritize among competing stakeholder interests and demands. Acting as quickly as possible to satisfy stakeholders may not lead to the best long-term outcomes for the company.

What Is the First Step in Stakeholder Prioritization