Considerations of Stakeholder Analysis
Stakeholder analysis is the identification of who has interest in an organization, an assessment of those interests, and an analysis of the ways in which those interests affect organizational viability. It is the systematic identification of key stakeholders and appraisal of their influence and posture towards bringing about of a particular future. An analysis helps identify the goals and roles of different interest groups, and formulate appropriate forms of engagement with these groups, thus potentially sculpting the strategies and tactics of a firm. Stakeholders are persons, groups or institutions with interests in policy, product, service, location, growth, competitiveness, pricing, etc. Primary stakeholders have immediate (closely aligned) interest. Secondary stakeholders are often intermediaries and may include public agencies and other institutional bodies. Often these groups do not think of themselves as stakeholders, because they feel they own the process. TO identify such stakeholders ask” whose support or lack of it might significantly influence the success of the firm? An analysis looks at both the stakeholder and the relationship (between stakeholder and firm). Different types of relationships need different kinds of activities and processes. Stakeholders can be very specific, such as individuals, client groups, suppliers, etc; others are more general. A stakeholder analysis also helps assess the environment (both internal and external) in which the firm operates; it can be used to: ▪ identify and define the characteristics of key stakeholders ▪ determine the real interests of stakeholders in relation to the firm’s challenges or mission ▪ identify conflicts of interests between stakeholders ▪ identify relations/networks between stakeholders that may enable alliances through ponsorship, co-ownership and collaboration ▪ leverage the capacity of different stakeholders to create...
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