Stakeholder interests and expectations have a substantial influence on the values and strategy of an organisation. In ADapT, we will not dwell too much on a broad range of stakeholders’ influence in the organisational strategy except for its product or service strategy.
We will have a relook at key stakeholders (suppliers, competitors, partners, platforms, and consumers) when we talked about markets.
Other relevant stakeholders are employees, owners and management who all want something from their investment in the organisation. It however vital that you understand stakeholders and their influence when formulating strategy. We will address this more in-depth when talking about stakeholder mapping, product design or problem-solving. For now – just a reminder that the most important stakeholder is the customer!
According to Peter Drucker, organisations exist to create customers, and we know by now that to create customers, we must focus on VALUE, and value is delivered to customers via products and services!