Stakeholder Analysis
STAKEHOLDER ANALYSIS
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Stakeholder is any
group or individual who can affect or is affected by the achievement of the
firm’s objectives
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Basically the stakeholders are of three types
o
Primary stakeholders
§ Owners
§ Customers
§ Employees
§ Suppliers
o
Secondary stakeholders
§ Media
§ Consumers
§ Courts
§ Government
§ Competitors
o
Key stakeholders
· Who can belongs to both the above groups
· Customer/Consumer
· They have significant influence upon an organization
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Stakeholder Analysis
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It is a process of systematically gathering
and analyzing the qualitative information to determine whose interests should
be taken into account when developing a policy or program
o
It focuses the enterprise’s attention and
moral decision making process on external events
Objectives,
Need, Intention and Methodology of Stakeholder Analysis
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Objectives
o
To identify the major groups or individuals
who are directly or indirectly involves/affect in enterprise development
o
To identify the concern groups or individuals
related to the enterprise
o
To prioritized the identified group s by
their power & interest
o
To understand the stakeholders by their
responsibilities
·
Need
o
To decide who to contact and how to contact
them
o
To create a database that will be useful for
the enterprise and for future program
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To obtain suggestions for other stakeholders
o
To obtain stakeholders information
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To reach a successful enterprise outcome
·
Intention
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Identification of enterprise goals
o
Preparation of action plan
o
Decision process
o
Ambassador activities
o
Information strategy
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Identification of interests
o
Performance
o
Financing
o
Resources
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Methodology
o
Secondary source of information was used to
collect the required information
o
Relevant information for this term paper has
been explored through different websites
o
Collected information was analyzed with the
help of simple data analysis tools
Stages
in Stakeholder Analysis
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Identify the Stakeholders
o
Think about all the groups or peoples
§ Who are affected by the enterprise
§ Who have influence or power over it
§ Who have an interest in its successful or unsuccessful
conclusion
o
Possible stake holders can be
§ Local government
§ CEO’s
§ Board Members
§ Investors
§ Unions
§ Media
§ Press
§ Leaders
§ Neighbours
§ Unions
§ Lobbies
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Prioritize the Stakeholders by their power & interest
o
From the above list of stakeholders
prioritize them by their power either in a manner
§ High power & Interested people
§ High power & less interested people
§ Low power & Interested people
§ Low power & Less interested people
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Understand Key Stakeholders by their responsibilities
o
We need to know how they are likely to feel
about and react to the enterprise
o
We also need to know
§ How best to engage them in the enterprise?
§ How best to communicate with them?
o
Key questions to understand you stakeholders
are
§ What financial or emotional interest do they have?
§ What motivates those most of all?
§ What information do they want from you?
§ How do they want to receive information from you?
§ What is the best way of communicating your message to
them?
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