Creating A Mutually Beneficial Ecology for Stakeholders (8 January 2025)

Background

This article addresses LinkedIn question:  “You’re proposing a new initiative.  How can you convince stakeholders to invest in it?”

Startup

As a resource-constrained NGO focused on youth development, we relied heavily on the time and dedication of a few volunteers’ time resources to accomplish our mission on youth development. Despite limited resources, their passion has been the foundation of our progress.

Scaling Up

Recognizing the New Economy as high-growth area requiring technology-drive talent, we initiated programs to inspire secondary school students to contribute to a brighter future with innovative technology solutions.

Unsolicited Application for funding

We proposed a 12-month initiative featuring three core STEM (Science, Technology, Engineering and Mathematics) activities to empower students. This program empowers students by guiding them through structured phases of awareness, inspiration and simulation, enabling them torecognize their unlimited potential to create innovative solutions.

Gaining a quality network during the scale-up

We triplicated the above program for consecutive three years with public funding to reach more than 30,000 students across 300 schools.  This effort enabled us to build a valuable network of school teachers, dedicated volunteers and outstanding student teams showcasing innovative technology solutions.

Deepening impact

Building on tangible outcomes, we are now proposing a new 12-month initiative with three core STEM activities aimed at:

·       Deepening students’ engagement in advance technology solutions

·       Increasing visibility of young innovators and sharing their stories

·       Driving tangible outcomes by targeting 10 or more patents across 100 schools

Key to successful engagement of stakeholders in invest in your stakeholders

A comprehensive success story emerges from numerous interactions between various elements.  However, the process can be distilled into a few key principles:

·       Understand The Stakeholder Interests

Align your initiative with what matters most to your stakeholders

·       Leverage Exchange Theory

Ensure stakeholders experience both emotional and cognitive satisfaction through their contributions

When stakeholders in the charitable ecosystem achieve their goals:

·       Volunteers sustain their passion

·       Funders sustain their financial support

·       Beneficiaries remain energized and inspired

By nurturing this mutually beneficial ecology, we create a cycle of collaboration and success that supports long-term growth for everyone involved.