By Syed Asim Ul Hassan

Introduction Stake holders Types of Stake holders Nature and Power of stake holders How to deal with stakeholders PEST analysis Conclusion

Person, group or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies.

Types of Stake holders. Primary Secondary

Stands for "Political, Economic, Social, and Technological analysis" and describes a framework of macro-environmental factors used in the environmental scanning component of strategic management.

The model has recently been further extended to STEEPLE and STEEPLED, LePEST adding education demographics and legal factors. It is a useful strategic tool for understanding market growth or decline, business position, potential and direction for operations

The PEST analysis divided the general environment into the following categories: 1. Political Relates to the pressures and opportunities brought by changes of the government and public attitudes toward the industry, changes in political institutions and the direction of political processes, legal issues, and the overall regulatory climate.

Society's economic structures and such variables as the stock exchange, interest and inflation rates, the nation's economic policies and performance, exchange rates, etc. These variables impact differently on different industries.

Social
Cultural attitudes, ethical beliefs, shared values, level of differentiation in lifestyle, demographics, education levels, etc. Observing social factors helps organizations maintain their reputation among stakeholders.

Technology that can alter the firm's competitive position. Industries merge; new strategic groups emerge; currents products improve and the cost of production gets reduced by process innovation. Managerial innovation is part of the technology scan.

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