www.sciedu.ca/jms Journal of Management and Strategy Vol. 1, No. 1; December 2010 ISSN 1923-3965 E-ISSN 1923-3973 76 An Exploratory Research on the Stakeholders of a University Emerson Wagner Mainardes NECE, Department of Business and Economics, University of Beira Interior (UBI) Lot. Ribeira de Flandres, lt. 16, R/C DTO, Covilhã, Portugal, 6200-802 Email: emerson.wm@sapo.pt Helena Alves (Corresponding author) NECE, Department of Business and Economics, University of Beira Interior (UBI) Estrada do Sineiro, S/N, Covilhã, Portugal, 6200-209 Email: halves@ubi.pt Mário Raposo NECE, Department of Business and Economics, University of Beira Interior (UBI) Estrada do Sineiro, S/N, Covilhã, Portugal, 6200-209 Email: mraposo@ubi.pt Received: September 14, 2010 Accepted: September 29, 2010 doi:10.5430/jms.v1n1p76 This research was supported by the Portuguese Science Foundation through NECE – Núcleo de Investigação em Ciências Empresariais (Programa de Financiamento Plurianual das Unidades de I&D da FCT - Fundação para a Ciência e Tecnologia, Ministério da Ciência, Tecnologia e Ensino Superior/Portugal) Abstract Higher education institutions are undergoing a process of transformation. Their functions of teaching and research are being reassessed, with particular emphasis on the contribution they make to the welfare of their economic and social environment, be it the region, the country or the European Union (Jongbloed, Enders and Salerno, 2007). To this end, higher education institutions need to engage in profitable relationships with various stakeholders and incorporating their respective visions and purposes into their own management practices. Hence, higher education institutions need to identify these stakeholders and their needs before defining priorities and relational strategies for each entity. This way, the aim of this article is to identify main stakeholders in a higher education institution while confirms or disconfirms the need to include lower hierarchy levels for the correct identification. Keywords: Stakeholders, Higher Education Institutions, University Management, Theory of Stakeholders, University and Stakeholder relationships. 1. Introduction Strategically important to nations, higher education has undergone major expansion in recent decades. Within this context, the education market experienced various changes with the advent of competition between higher education institutions (HEI) whether in national or international terms (Tam, 2007). This competition brought consequences for all stakeholders connected to higher education. Students gained greater breadth of choice when undertaking their professional training. The HEIs (Higher Education Institutions) themselves experienced this greater competition and driving their internationalisation and the setting up of not only virtual universities but also corporative entities with their roots in major private organisations (Mintzberg & Rose, 2003). With such changes in their surrounding environment, HEIs began to need more professional management structures and more entrepreneurial types of organisation. A highly competitive market demands universities to develop skills and competences not previously required, specifically in terms of resource and student management, the development of their brands in society, the preparation of students for the job market, performance evaluation, among others (Michael,