What do stakeholders expect

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These cookies ensure basic functionalities and security features of the website, anonymously. The cookie is used to store the user consent for the cookies in the category "Analytics". Given the diversity of stakeholders, there needs to be multistakeholder collaborative leadership. Effective collaboration requires consensus on roles, responsibilities and expectations to synergize efforts to deliver meaningful PE in medicines life cycle.

These four stakeholder expectations should be at the top of the list. Understanding your stakeholders' needs isn't optional--it is the foundation on which your project work is based. You need to understand not only what each stakeholder needs but also as much as you can what drives them. Ask your stakeholders what success looks like to them. What are some of their biggest concerns? How do they approach challenges? When it comes to difficult stakeholders, it is especially important to understand their points of view.

You can try to put yourself in their situations, but it is not a substitute for getting direct feedback. Talking with stakeholders about directly relevant topics is time and energy well invested because it helps stakeholders get to know you and your level of dedication to taking care of their best interests.

Another key factor in successfully meeting stakeholder expectations is continuing to build a trusting, long-lasting relationship with them. Projects are only successful if the project manager, team, and other stakeholders can work well together. On the other hand, if the business chooses to ignore its host communities, that disregard becomes a black mark on its reputation and can result in other sanctions if relations become bad enough. The only stakeholders that businesses can ignore are the ones with little interest and influence on their operations.

By Chron Contributor Updated February 18, What Is Profit Motivation? Contemporary Issues in Planning for Business. Related Articles.