Stakeholders: Transforming Courses Online

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This lecture focuses on the importance of identifying and engaging key stakeholders when converting a face-to-face course into an online format. It covers topics such as defining stakeholders, understanding their impact on the project, and developing strategies to involve them effectively. By the end of the unit, participants will be able to map out key stakeholders and create a plan to gain their support.

In a corporation, a stakeholder is a member of "groups without whose support the organization would cease to exist", as defined in the first usage of the word in a 1963 internal memorandum at the Stanford Research Institute. The theory was later developed and championed by R. Edward Freeman in the 1980s. Since then it has gained wide acceptance in business practice and in theorizing relating to strategic management, corporate governance, business purpose and corporate social responsibility (CSR).

The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level.