ENACTUS TRAINING What is a Stakeholder? Adapted by D Caspersz for enactus Australia, August 2013

What is a stakeholder? A stakeholder is any individual, group or community who has a vested in interest in the outcome of a project Vested means having the right to something Stakeholders feel they have the right to the results, conclusion or even after-effect of your project Need to engage with stakeholders in through project life

Types of Stakeholders Key Stakeholder Significantly impacted by your project Or whose interests and influence must be recognised for the project to be successful OR cannot do the project without their input Peripheral Stakeholder Somewhat impacted by your project OR must recognise their interests and influence to a lesser degree for your project to be successful.

Types of Stakeholders Internal stakeholders Influence daily operations of your project Contact regularly, once a week Eg Faculty Advisor External stakeholders Can also influence your day-to-day operations But generally have less contact with them, less than once a month Eg BAB member

Why engage with stakeholders? To develop confidence in others To ensure what we do is user-friendly, appropriate and targeted to needs To assist our targeted audience to manage their need before it becomes unmanageable To avoid negative publicity Building trust between stakeholders and us To manage conflict that may arise from different perceptions

Why engage with stakeholders? To increase our effectiveness To build a community of practice towards resolving need. That is facilitate cooperation and collaboration between core/periphery, and internal/external stakeholders. Bridge cultural gaps Develop innovative solutions to meeting needs

Principles of Engaging with Stakeholders Strategic principles: Why you engage with a stakeholder. Operational principles: How and what you engage with stakeholders about The Needs Analysis module will assist you to develop an understanding of how these principles apply to your enactus projects.

Strategic Principles The issue you deal with must be SIGNIFICANT to the stakeholder/s. Authenticity: authenticate the issue by understanding the concerns, views, needs and expectations of the stakeholders. Responsiveness: respond coherently and appropriately to the stakeholders issues.

Operational Principles Communication: use open communication by listening and talking to stakeholder/s. Transparency: be clear about what you are doing; develop information about the project that both you and the stakeholders agree influences the project. Develop feedback processes. These help you to keep checking the accuracy of what you are doing, as well as keep your stakeholder/s engaged with the project.

Operational Principles Collaboration: work to seek mutually beneficial outcomes that are both significant and feasible. Integrity: conduct engagement in a manner that fosters mutual respect and trust.

Operational Principles Inclusiveness: recognise, understand and involve not only your CORE stakeholders in the process, but communicate, be transparent and collaborate with peripheral stakeholders.

Remember! Enactus project work requires both you and the stakeholder. Each must experience a ‘win-win’ situation for the project to be successful.