We asked a team of BAM experts to give some practical advice for BAM practitioners creating business plans. For this post we asked them about key stakeholders in the business planning process.
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. – BBC
Mats Tunehag, Larry Sharp and Garry all actively mentor frontline BAM companies – as well as teach and write on BAM. We also asked business woman Julia to share about a stakeholder she has found helpful in her business in Mongolia. Read more about them below.
Here are 12 stakeholders they mentioned, there are others:
- Investors – owners, bank or investment company
- Business people – in companies working cross-culturally in your business or industry
- Business consultant – someone with specialist knowledge
- Colleagues – management and staff
- Customers – those likely to be your clients
- Suppliers – of essential materials and services for your business
- Community – local society and also the physical environment
- Cultural expert – someone with insight into engaging with local community
- Government official – someone who can give you insight and be an advocate for you
- Body of Christ – local church community, mission organisations and supporting churches
- Spiritual advisor or mentor – someone with wise counsel you can be accountable to
- God – the most important stakeholder