The Debt and Financial Inclusion (DFI) Service is presently responsible for the collections of rents and service charges in excess of £120m which is the primary source of income for WDH to fund its operations.
1.2 Analyse the needs and expectations of stakeholders of an organisation
'A stakeholder is any group or individual with an interest or a stake in the operations of a company or organisation - anyone who can affect or be affected by its activities. Stakeholder analysis is the process identifying an organisation's stakeholders and assessing their influence, so as to manage relationships with them.'
Source: Chartered Management Institute: Stakeholder analysis and management - checklist 234
Failure to recognise stakeholders views and opinions comes at a cost. Some stakeholders have the potential to make or break an organisation due to their power and influence. However it is recognised that stakeholders have differing levels of influence upon it and therefore in order to manage the individual stakeholder relationship it is necessary to understand each of them taking into account the following: