Why Stakeholders are Crucial in Heathrow's Development Process

Personal involvement of the stakeholders has several benefits. First, it gives the stakeholders the impression that their needs and expectations are being taken care of, leading to satisfaction. Secondly, personal involvement and networking makes the stakeholders confident to give their opinions. Thirdly, the involvement helps to build trust with the stakeholders. By involving different stakeholders, Heathrow authorities will benefit from the diversity of view points, expertise and opinions. Stakeholders such as customers and the employees will provide informed opinions since they know the most about the airline services, environment and industry. As well, the authorities will be in a better position to understand the policies they will make since they will be better informed. Further, involving the stakeholders ensures that the perceptions of all parties are taken into account during decision-making process. In the case of Heathrow, the involvement will lead to harmonization of internationality and development of a better outcome of the 3rd Runaway projec

The key internal stakeholders that the authorities of Heathrow will need to involve in the decision-making process are the directors, managers, employees, trade unions, employee associations, and team leaders. On the other hand, the external stakeholders are the individuals and groups outside an organization or those that do not work directly in an organization. The key external stakeholders that Heathrow will need to involve in the decision-making process include shareholders, bankers, competitors, business associations, political groups, activist groups, suppliers, customers, local communities and government agencies.