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The Importance of Stakeholders


            When devising a solution to a problem it is important to know the interests of the stakeholders, and to understand the problem. Listening to the views of each stakeholder makes it possible for one to explore the pros and cons of the situation from a wide variety of perspectives. In deciding upon a satisfactory balance between stakeholders, one must account for all of their interests and be honest and fair to them. Usually, there are stakeholders with less serious interests than those of others, which will have a less dramatic effect on everyone else. Some groups may also be more "in need" than others. For example, in the case study regarding TB in cattle, the farmers are very much in need of attention, as British farming is currently in a crisis and TB severely harms their economy. The consumers are not in great need, as humans rarely contract TB from cattle products. Paying more attention to interests of certain stakeholders does not necessarily mean you are being unfair to others, if the resulting decision benefits everyone as a whole. It is impossible to ensure that the desires of all stakeholders are completely met. To determine the most crucial interests that have the greatest impact upon all involved parties, one must determine the consequences of their potential decisions, and be aware of how they will affect each stakeholder. One must attempt to maximize the welfare of all, and avoid doing harm. Often, stakeholders will have interests in common with each other, making it easier to resolve the solution in ways most acceptable to everyone. Obtaining feedback from each stakeholder, using logic and common sense as well as facts, and consulting ethically informed sources such as laws and moral traditions can aid in finding a suitable solution.
            


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