简单地说，stakeholder就是在某一特定事物上持有股份或利益的人。然而，当同样的术语被应用于商业风险、项目或机构时，解释就更加牵强了。利益相关者的利益不仅止于对企业的利益，还包括他们的积极参与(Seuring and Gold, 2013)。因此，任何业务的基础都是了解它们的利益相关者、它们的利益相关者的需求以及如何处理它们。这个过程被称为涉众分析，它是一个完整的过程，在一定程度上决定了任何组织的成功。
It was revealed from the research that in most cases the stakeholders were fully involved with the charity only when they were interested in it, regardless of their power and influence. Hence active involvement of those who are ready to contribute and the ones who are powerful is necessary for the success of any charitable organization. Charities need to ensure that such stakeholders are managed well and kept happy so that they may put in more efforts for the success of the organization. Additionally softer aspects like trust and integrity need to be instilled in the minds of the stakeholders towards the organization so that they understand and feel the worth of the noble work being done.
In simple English a stakeholder is nothing but someone who holds a stake or interest in a particular thing. However when the same term is applied to a business venture or a project or an institution, the explanation is more far-fetched. The stake of the stakeholder does not end merely with an interest in the business but involves their active participation as well (Seuring and Gold, 2013). So the basis of any business is to understand their stakeholders, the needs of their stakeholders and how they may be dealt with. This process which is referred to as stakeholder analysis is an integral process that partially determines the success of any organization.
A charitable organization may be defined as a type of organization where profit and revenue generation are not the primary concerns (Pirson and Malhotra, 2011). This is because the main concern of such an organization is social well-being and doing well for the needy ones in the society. They thrive on philanthropy from others and may take the form of a religious institution, education institution or any other institution that serves the public interest and works for the common good. While most of them are dependent on donations and charity from major social beings and the corporate philanthropists, some of them even engage in small scale businesses like weaving, pottery, and jewellery making and so on to generate some funds.
Nevertheless the legal definitions of such organizations are subject to change with the countries and the regions where they operate, with very slight differences amongst them. Accordingly the rules, regulations, the laws and the taxation policies also vary across each of them.
In this research paper the area of study shall be limited to the involvement of stakeholders and their management in running charitable institutions. The report is structured to begin with the literature review hence which shall be followed by the methodology of the research. Later the findings from the research shall be analysed and discussed, based on which conclusions may be drawn and recommendations subsequently made to the charitable institutions in their functioning.
The research was successfully carried out with the assistance received from a few leading charity houses based in London from whom the researcher was able to collect substantial information.