Formulating New Strategy

Business Strategy LO2

HND, ISMS

Stakeholder Analysis

Who is a stakeholder
A corporate stakeholder is that which can affect or be

affected by the actions of the business as a whole

"those groups without whose support the organization would

cease to exist.

 Source - Wikipedia

Stakeholder Mapping
The first step in building any stakeholder map is to develop a

categorised list of the members of the stakeholder community. Once the list is reasonably complete it is then possible to assign priorities in some way, and then to translate the highest priority stakeholders into a table or a picture. The potential list of stakeholders for any project will always exceed both the time available for analysis and the capability of the mapping tool to sensibly display the results, the challenge is to focus on the right stakeholders who are currently important and to use the tool to visualise this critical sub-set of the total community.

 The most common presentation styles use a matrix to

represent two dimensions of interest with frequently a third dimension shown by the colour or size of the symbol representing the individual stakeholders. Some of the commonly used dimensions include: Power (high, medium, low) Support (positive, neutral, negative) Influence (high or low) Need (strong, medium, weak)

Stakeholder significance grid

 High power, interested people: these are the people you

must fully engage and make the greatest efforts to satisfy. High power, less interested people: put enough work in with these people to keep them satisfied, but not so much that they become bored with your message. Low power, interested people: keep these people adequately informed, and talk to them to ensure that no major issues are arising. These people can often be very helpful with the detail of your project. Low power, less interested people: again, monitor these people, but do not bore them with excessive communication.

 Blockers to watch as their high energy makes them likely to communicate

widely, influence effectively and act vigorously. Their low commitment to your change affects what they say and do, which makes them likely to land up standing in your way. Champions - why do we never seem to have enough of these? The same high energy as your Blockers but committed to your change. Look after these stakeholders when you find them. Preachers - are committed to your change and also may talk a lot, but their low energy means they are unlikely to take much other action. Sleepers - well the hint is in the name. They are not really committed to your change and dont have the energy to do anything about it or talk about it. Unless you know they are because they dont understand what is coming (and therefore might move to another quadrant when they find out) you dont need to exert too much time or effort looking after them.

Environment Auditing

Thank You