Who are the Stakeholders?

Primarily these will be the business entities that will be directly impacted by the regulation. These are legitimately formed entities which are legally registered with the authorities such as the Companies Commission of Malaysia and the Malaysia Co-operative Societies Commission. These entities may be formed as private limited liability companies or public-listed limited liability corporations. There are also other forms of business such sole proprietorship, partnership and limited liability partnership. The people to consult will be the owners of the business or their representatives.
Business entities may also have legitimate groups representing their interests. These non-governmental groups are the business associations, chambers, societies, institutions or federations established at federal, state and community level. These bodies are usually registered with the Registrar of Societies Malaysia.
Professional businesses can be formed at the individual level through their registration with their boards, councils, associations or institutions. For example, the legal service can be formalised through the Bar Council. These business entities are represented by their professional bodies.
Regulation will have consequential impact on the suppliers and customers of the directly-impacted businesses. The value-chain or supply-chain analysis is necessary to identify theparties affected.
At the end of the supply chain are the final consumers. These may be the specific user of the products or services or the general public. Consultation should be opened to these stakeholders. The consumers may be represented by civil societies such as the consumer associations and other registered interest groups.
Another important stakeholder is the employees of the businesses. These people are generally represented by the employees associations, their professional bodies or the unions. Although the consultation is open to all, it is more important to consult their represented bodies.
Finally, consultation should reach other interested parties: the academia; business consultants; research institutions; and the general public. This identification cannot be exhaustive until a formal stakeholder analysis is carried out.

Last Updated 2015-10-19 17:39:15 by admin2