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 involves determining who the stakeholders are and what their interests and concerns are. Only after this step can the firm begin to analyze the nature of the issue and prioritize among competing stakeholder interests and demands. Acting quickly to satisfy as many stakeholders as possible without first understanding who they are and what they want is not a strategic approach to stakeholder management.

What Is the First Step in Stakeholder Prioritization