The concept of stakeholder originates in political theory. Interest in this concept grew among corporates and stake-holding ideas emerged as an alternative way of understanding the interests at stake. Stakeholders are those who influence or can influence the organisation as well as those affected by it. there is a thin distinction between publics and stakeholders and these terms are more often used interchangeably. But, Grunig and Hunt (1984) distinguish publics as stakeholders that face a problem or have an issue with the organisation.
Stakeholders, publics, audiences, is the "public" in public relations. Despite the synonymity in these terms, the management of these stakeholders is of prime importance in the more contemporary practice of strategic management and organisation-public relationships.
Stakeholder mapping has been central to many theories. A look a few theories/models that take different approaches to stakeholder management.
1. Bernstein's Wheel
This model was developed in 1984 and given the growth of public relations since then, it may seem rather obsolete. Contemporarily, public relations in both theory and practice, has acknowledged public relations function to be a more strategic component of an organisation, than just another spike in this wheel. The wheel doesn't help organisations prioritize its audience or suggest two-way communication, restoring the traditional linear process of communication. It has been argued by many researchers that public relations to gain a strategic position, needs to listen to and monitor its audiences, emphasizing the importance of two-way communication.
2. Esman's Linkages Theory
Developed during the same time period as Bernstein's wheel, the Linkages theory is a little advanced in the way the model has been structured. It divides the public in four linkages and also has an input and output channel. Whilst the different grouping of stakeholders, the model does not address the priority given to each of them. The publics under the four linkages have either towered up or dropped down in priority. For instance, the non-profit sector and activists are a vital public to organisations and can be categorised under "Normative linkages".
3. Power Interest Matrix
The more contemporary model is the power-interest matrix. Stakeholders are mapped in accordance to the level of power and interest. The model ticks three important boxes in stakeholder management, one- stakeholders are chosen on the level of power they hold and can influence, two- the degree of interest in/with the organisation, third- stakeholders can be prioritised differently in different situations. The third tick is very crucial as every situation may have to cater different audiences, especially with the growth and influence of online media, that have a certain grade of power an interest.
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