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stakeholder’s theory. Discuss the importance of managers connecting with various stakeholders. Also, what are some negative...

stakeholder’s theory. Discuss the importance of managers connecting with various stakeholders. Also, what are some negative results of not connecting with stakeholders. Who are potential stakeholders in a nonprofit organization?

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The importance of connecting with different stakeholders by managers, increases the chances of project success. This helps to brief stakeholders well in advance and letting them know about the risks associated, dependencies and any type of assumption associated with the project. This also helps in establishing the trust with the stakeholders so that in future the desired support can be expected to resolve unseen issues. It makes the project realization easy and helps in successful project initiation till closure. In case this does not happen then it becomes difficult to manage the projects without stakeholders involvement. For example, stakeholders may demand certain scope changes in the project which may not be worthwhile with respect to the cost, time and the overall schedule. The stakeholders for the non-profit organizations consists of donors, individual who are being served, different trustees, board members, individuals who gives grants to the non-profits.

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