CIMA E2 Syllabus A. Business models and value creation - Stakeholder needs - Notes ^{3 / 9}

Stakeholders are those who affect and are affected by an organisation. For example: Shareholders, Customers, Employees, Government, etc

Employees are stakeholders who contribute to an organisation's 'know-how', 'loyalty', and 'engagement'.

An organisation tries to create value for stakeholders and satisfy their needs. 

To do this an organisation must:

1. Identify the stakeholders

2. Prioritise and rank the stakeholders (Using either the Power, Legitimacy and Urgency Method OR The Mendelow’s Matrix)

3. Identify the needs

4. Create value that will satisfy the priority stakeholders needs