stakeholder-feedback

Vocabulary Word

Definition

'Stakeholder-feedback' is when individuals or groups who have a vested interest in your project or company tell you what they think. It's similar to customer reviews, but here stakeholders can be anyone from customers to employees, investors or anyone who has an interest in what you do.

Examples in Different Contexts

In product development, stakeholder feedback is essential for refining products to meet user needs and market demands. A product manager might say, 'Incorporating stakeholder feedback into our development process helps us create more user-friendly and marketable products.'

Practice Scenarios

Business

Scenario:

Our last product launch saw a mixed response from the customers. How should we use this information to improve?

Response:

We should carefully analyze the stakeholder feedback from our customers, identify the common issues, and prioritize those for improvement.

Leadership

Scenario:

There seems to be a low morale among our employees. How can we foster a more positive working environment?

Response:

Let's initiate a dialogue and then use the stakeholder feedback from our employees to shape our human resources strategy.