ECONOMICS

Detailed explanation-1: -Relying on stakeholder involvement and additional expertise helps complex decision-making meet objectives-resolving the issues that gave rise to the need for a decision by identifying a quality solution.

Detailed explanation-2: -The term “stakeholder” may be understood as any actor – institution, group or individual – with an interest or a role to play in a societal decision-making process. When convening a stakeholder involvement initiative, it is usually necessary to more precisely identify the target population.

Detailed explanation-3: -The importance of stakeholder engagement Specifically, stakeholder engagement can help: Empower people – Get stakeholders involved in the decision-making process. Create sustainable change – Engaged stakeholders help inform decisions and provide the support you need for long-term sustainability.

Detailed explanation-4: -“An MSP is a process in which diverse actors (e.g. government agencies, producer organizations, NGOs, private actors, donors and others) collaborate to achieve a common goal.” A Multi-stakeholder Process (MSP) is fundamentally about participatory decision-making and information sharing at the country level.