Stakeholder engagement is the process of involving individuals or groups who have an interest in a project or organization. These stakeholders can include employees, customers, investors, and community members. By actively communicating and collaborating with them, organizations can better understand their needs and concerns, leading to more effective decision-making and improved outcomes.
Effective stakeholder engagement helps build trust and fosters positive relationships. It encourages feedback and participation, allowing stakeholders to feel valued and heard. This collaborative approach not only enhances project success but also contributes to a more sustainable and responsible business environment, benefiting both the organization and its stakeholders.