Stakeholder-based

Stakeholder-based refers to an approach, strategy, or decision-making process that prioritizes the needs, interests, and contributions of all individuals or groups who have a vested interest in a particular project, organization, or system. This involves actively engaging with and considering the perspectives of these stakeholders, rather than solely focusing on shareholders or a select few. It emphasizes collaboration, transparency, and accountability in pursuit of shared value creation and sustainable outcomes, recognizing that the success of an endeavor depends on the well-being and satisfaction of everyone involved.

Stakeholder-based meaning with examples

• The company adopted a stakeholder-based approach to its sustainability initiatives, consulting with employees, local communities, and environmental groups to determine the most impactful actions. This led to a more comprehensive and effective plan that addressed diverse concerns and fostered broader support, highlighting the importance of inclusivity.
• The development of the new public transit system was designed using a stakeholder-based model. Planners conducted extensive surveys and public forums to gather feedback from riders, businesses, and residents, resulting in a transportation solution that better met the specific needs of the community.
• Following the crisis, the organization embraced stakeholder-based leadership by directly involving its workers. Management developed the structure to allow for direct input from those who could contribute, which led to greater efficiency and better responses, proving the benefit of inclusivity in hard times.
• The non-profit's stakeholder-based approach involved collaboration. The team worked with several governmental institutions and multiple businesses to establish a fund to support the affected community. The focus of this model was to allow those in the community to give input which made the project much more inclusive.
• The university developed a stakeholder-based curriculum reform project. The academic staff and student body provided input to create a more relevant, accessible, and student-centric learning environment, illustrating the advantages of a collaborative, inclusive, and responsive educational strategy.