Assess the types of stakeholders involved in the development process for the product/service Evaluate the impact of key inputs from stakeholder groups on new product/service development efforts. Analyze the role these key stakeholder groups can play in contributing to the success of a new product/service Justify at least two persuasive strategies that can be used to engage stakeholders in new product/service development projects. Assess the key competitive advantages that utilizing the current trends in information technology (IT) will deliver to the area of new product/service development. Solution Stakeholders include Shareholders ,Banks,financial institutions and Private Equity in the Development Process for a tire company like Michelin tires Each of Michelin businesses is encouraged to identify and engage with key stakeholders at a national and operational level. Michelin Stakeholder Relations Guidance provides information to help these businesses identify and engage with their stakeholders. A stakeholder is an individual who is affected by or who can affect a project\'s outcome. Stakeholders shape projects in the early stages, ensuring resources are available to contribute to project success, and provide insight regarding the probable reaction to a project\'s outcome, which facilitates project adjustments when necessary to win organizational support. The roles of stakeholders change throughout a project life cycle. However, the willingness of stakeholders to perform the activities assigned to them during the project planning process greatly contributes to the success or failure of the project. Group stakeholder engagement on sustainability is managed by the Performance and Responsibility team at Michelin Group. Site-level stakeholder engagement is the responsibility of site managers. Together, these provide critical input to help guide Michelin strategy and PRM activities..