CROSS-INDUSTRY INSIGHTS: A COMPREHENSIVE REVIEW OF EFFECTIVE STAKEHOLDER MANAGEMENT BENEFITS

Chibuike Daraojimba (), Casandra Okogwu, Blessed Afeyokalo Egbokhaebho, Ahmed Raji, Abosede Olusade Kolade and Bolaji Ismail Olalere
Additional contact information
Chibuike Daraojimba: Graduate School of Technology Management, University of Pretoria, South Africa
Casandra Okogwu: Independent Researcher, Lagos
Blessed Afeyokalo Egbokhaebho: Independent Researcher, UK
Ahmed Raji: Greenlight Planet (Sun King Solar), Nigeria
Abosede Olusade Kolade: Department of Marketing and Bus., Texas A&M University, Commerce Texas, USA
Bolaji Ismail Olalere: Independent Research Engineer, Lagos

Materials & Corrosion Engineering Management (MACEM), 2023, vol. 4, issue 1, 12-19

Abstract: In an age of increasing project complexity and inter-industry collaboration, successful stakeholder management has emerged as a pivotal aspect of project management, ensuring that projects achieve their objectives and gain acceptance and support from all involved entities. This review article delves into the multifaceted realm of stakeholder management, focusing on its benefits in cross-industry projects – a relatively new and increasingly relevant area of study. Through a comprehensive analysis of recent studies, we elucidate the tangible and intangible advantages that effective stakeholder management brings to projects that span multiple industries. Key findings indicate that adept management of stakeholders leads to enhanced communication, reduced risks, optimal resource utilization, and project success. Furthermore, in cross-industry projects, it fosters innovation, drives alignment of industry-specific objectives, and facilitates knowledge sharing, thus yielding competitive advantages for all involved parties. This article aims to guide practitioners and researchers alike in understanding the pivotal role of stakeholder management in modern, inter-industry projects, highlighting its significance as a cornerstone for achieving synergistic project outcomes.

Keywords: Stakeholder management; communication; cross-industry; benefits; strategy; stakeholders; technology (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zib:zmacem:v:4:y:2023:i:1:p:12-19

DOI: 10.26480/macem.01.2023.12.19

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