Government is the process of accommodating different needs and viewpoints

However, if that same farmer could connect to a huge purveyor like Kroger, he or she could sell this giant customer its entire crop.This relationship places the farmer in the low-power, high-interest category, meaning he or she will most likely have to make price adjustments to make the sale.Whole Foods’ competitors, on the other hand, must now prioritize customer service, whereas before they could compete on price alone.Whole Foods can become a serious competitor to discount grocery stores like ALDI and Walmart.Not every stakeholder can command constant attention, and no firm has unlimited time or resources, so in one sense, this prioritizing is simply the business of management.Combine the inherent priority of the stakeholder relationship with the level of , that is, the level of urgency of a stakeholder claim, to arrive at a decision about where to begin focusing resources and efforts.Stakeholder priority can be expressed as a relationship between the stakeholder group’s influence or power and the interest the stakeholder takes in the relationship.

First, it may help to speak to the expectations that any stakeholders may have of a particular business or institution.First, managers must establish that an individual with a concern is a member of a stakeholder group.For example, a brand may attract hundreds or thousands of mentions on Twitter each day.Stakeholder prioritization will also vary based on time and circumstance.For example, a large retailer facing aggressive new competitors must prioritize customer service and value.

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