Product stakeholders

Stakeholders are individuals or groups who can affect or are affected by your product decisions. They may have direct decision-making power, provide necessary resources, or be impacted by the product's success or failure. As a product manager, understanding who your stakeholders are helps you navigate organizational dynamics and secure the support needed for your product's success. Stakeholders typically fall into 2 categories:

• Internal stakeholders include executives, engineering teams, sales, marketing, customer support, and other product teams.
• External stakeholders might include customers, investors, regulatory bodies, and partners.

When identifying stakeholders, consider who has formal authority over your product, who controls resources you need, who will implement your decisions, and who will be affected by your product. Think beyond the obvious direct stakeholders to include those who might have indirect but significant influence. Remember that stakeholder landscapes change over time. New stakeholders emerge as products evolve, organizational structures shift, or market conditions change. Regularly revisiting your stakeholder map ensures you're engaging with the right people at the right time.^[1]