Many strategic decisions fail because they do not attend to the interests and information held by key stakeholders. This scenario has prompted a stakeholder's approach to corporate governance.

(a) Describe the term ‘stakeholder'.

(b) Discuss the importance of stakeholder mapping.

Stakeholder management requires the identification of conflicts/potential conflicts, gaps, contradictions or incompatibilities between stakeholder requirements, so that a reconciliation strategy can be planned.

(c) Illustrate a stakeholder mapping matrix.

(d) Describe the Ambrosini typical maps, with illustrations, for managing stakeholder relationships.