Stakeholder Analysis - Explained
What is Stakeholder Analysis?
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What is Stakeholder Analysis?
Stakeholder Analysis identifies the ways in which stakeholders may influence the organization or may be influenced by its activities, as well as their attitude towards the organization and its targets.
What is the Stakeholder Value Perspective?
According to the Stakeholder Value Perspective, Proposed by Edward Freeman (1984), the very purpose of the firm is to serve as a vehicle for coordinating stakeholder interests. In this view, Stakeholder Analysis is an end in itself.
The role of management is to formulate and implement strategies and to make decisions that satisfy all or most of the stakeholders, or to ensure at least that no powerful and legitimate stakeholders are left too unhappy.
Who are Stakeholders of a Business Organization?
Here is a comprehensive list of typical stakeholders that might fall in these two categories:
- Owners and stockholders, investors
- Banks and creditors
- Partners and suppliers
- Buyers, customers and prospects
- Employees, works councils and labor unions
- Government (local, state, national, international) and regulators
- Professional associations, Industry trade groups
- Non-governmental organizations
- Public, social, political, environmental, religious interest groups, communities
What are the Categories of Stakeholder?
There are Internal Stakeholders (such as employees) and External Stakeholders (such as government).
We can also distinguish between Primary Stakeholders (such as stockholders) and Secondary Stakeholders (such as government). Where the line is drawn precisely, is a source of much debate.
Steps in Stakeholder Analysis?
- Identify stakeholders
- Understand stakeholder needs and interests. Classify them into meaningful groups.
- Prioritize, balance, reconcile or synthesize the stakeholders
- Integrate stakeholder needs into the strategies of the organization and into its actions
- How Strategies Arise
- Intended, Deliberate, Realized, and Emergent Strategies
- Management and Strategic Planning
- Mintzberg's Schools of Strategic Development
- Design School
- Planning School
- Positioning School
- Entrepreneurial School
- Cognitive School
- Learning School
- Power School
- Culture School
- Environmental School
- Configuration School
- Mintzberg's 5Ps of Strategy
- McKinseys 7s Model
- ***Industry Analysis to Build a Strategy***
- Strategic Analysis
- SWOT Analysis
- SPACE Analysis
- Situational Analysis - 7C
- Competition Profile Matrix
- Stakeholder Analysis
- Stakeholder Mapping
- Resources and Capabilities
- Core Competency
- VRIO Analysis
- Value Chain Analysis
- Internal Factor Analysis
- Value Creation Index
- Minimum Efficient Scale
- PEST(LE) Analysis
- Industry Lifecycle Analysis
- Company Lifecycle - Definition
- Porter's Five Forces
- Modes of Management
- External Factor Evaluation
- Business Performance Measurement
- Balanced Scorecard
- Economic Value Added
- Activity-Based Management
- Quality Management
- Action Profit Linkage Model
- Business Activity Monitoring
- Gap Analysis
- Strategy Diamond
- BCG Growth-Share Matrix
- GE McKinsey Matrix
- Value Reporting Framework
- Pyrrhic Victory