Meaning ● Stakeholder Centricity, in the realm of Small and Medium-sized Businesses (SMBs), represents a strategic orientation where all business decisions are deeply informed by and designed to positively impact the firm’s stakeholders. It goes beyond simple customer service, it prioritizes the needs and expectations of employees, customers, suppliers, investors, and the broader community. This focus directly influences growth strategies within SMBs by fostering strong relationships and building a positive reputation. ● By strategically integrating stakeholder feedback, automation efforts can be directed to areas providing maximum return across the stakeholder ecosystem, not just immediate revenue gains. Implementation of new technologies or processes is also smoother when stakeholder perspectives are actively considered, which aids in minimizing resistance and maximizing adoption. Understanding stakeholder values helps the SMB align its operations with stakeholder needs, paving the way for sustainable growth and operational efficiencies.
