Managing Stakeholders in Global Projects
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The following thesis will provide an examination of stakeholders in global projects. Stakeholders present the project in itself through the various participants in it. The literature review gives an extended overview and understanding of stakeholders as well as exploring particularities for global projects and their special influence on stakeholder like the changes through time, environment, importance of communication and relationship management in general. For a more comprehensive approach success factors are introduced and reveal key aspects like communication, feedback and monitoring as well as relationship management for a beneficial outcome. Success factors were confirmed in the conducted interviews and in particular private relationships were pointed out, as key to success in a global environment. Moreover the awareness of stakeholders is given, although an appropriate definition is not available, therefore understanding needs to be broadened. As practitioners use different perspectives, the awareness of distinct interests and points of view as well as the expectation of problems is given. Problems get searched and used for improving the global project outline and execution. Moreover, to take the different dynamics from inside and outside into the global project in mind, planning needs to be focused as well as continuously on-going active stakeholder interaction, which displays the key to success. In general the approach towards stakeholders needs to be adjusted by the scholars for a more practical application. On the other hand practitioners need to be more careful about stakeholders, like taking in mind the theoretical background. The conclusion of this thesis presents first the recognition and awareness of stakeholders to then identify and analyse them with help of theoretical tools. This is followed by a plan about the treatment of stakeholders, as planning is the core for success. Afterwards the interaction will take place, which needs to be guided and especially adjusted for the different stakeholders. In general the emphasis should lie on the creation and exploitation of private relationships as they are improving and facilitating the global project. The last part of the circle of approaching stakeholders is the awareness of dynamics, before that the stakeholders need to be identified and analysed due to the fast changing environment; for example the different global environments and particularities need special attention. As stakeholders present the key of a global project they need special attention as well as interaction to intertwine with each other for a more efficient way of working. Key issues such as particularities in the global environment and the importance of open active communication to facilitate the execution, will be discussed to show crucial points for pursuing success in global projects.