We Want to Hear From You Engaging a diverse group of stakeholders over the long-term in constructive and open dialogue makes us a better company.
This technique can be used in relation to a particular strategic development such as the launch or withdrawal of a service.
Stakeholders should first be plotted in relation to how they would line up — the level and nature for or against of their importance and the extent of their influence. A second map can also be plotted showing how you would need stakeholders to line up if the development were going to have a good chance of success.
By comparing the two maps and looking for the mismatches, priorities for managing stakeholders can be established, as well as priorities for maintaining stakeholders in their current positioning.
Each quadrant can be analysed in the following way. In a clockwise rotation: The style of participation for stakeholders needs to be appropriate for gaining and maintaining their ownership.
Stakeholders placed here can be highly important but having low influence or direct power, however need to be kept informed through appropriate education and communication. Stakeholders here have low influence and low importance and care should be taken to avoid the dangers of unfavourable lobbying and therefore should be closely monitored and kept on board.
Stakeholders placed here can hold potentially high influence but low importance should be kept satisfied with appropriate approval and perhaps bought in as patrons or supporters. However, it is important to recognise, that the map is not static. Changing events can mean that stakeholders can move around the map with consequent changes to the list of the most influential stakeholders.
Monitor and manage stakeholder relationships Stakeholder management is essentially stakeholder relationship management as it is the relationship and not the actual stakeholder groups that are managed.
Principle 1 Managers should acknowledge and actively monitor the concerns of all legitimate stakeholders, and should take their interests appropriately into account in decision-making and operations. Principle 2 Managers should listen to and openly communicate with stakeholders about their respective concerns and contributions, and about the risks that they assume because of their involvement with the corporation.
Principle 3 Managers should adopt processes and modes of behaviour that are sensitive to the concerns and capabilities of each stakeholder constituency. Principle 4 Managers should recognise the interdependence of efforts and rewards among stakeholders, and should attempt to achieve a fair distribution of the benefits and burdens of corporate activity among them, taking into account their respective risks and vulnerabilities.
Principle 5 Managers should work cooperatively with other entities, both public and private, to ensure that risks and harms arising from corporate activities are minimised and, where they cannot be avoided, appropriately compensated.
Principle 6 Managers should avoid altogether activities that might jeopardise inalienable human rights e. Principle 7 Managers should acknowledge the potential conflicts between a their own role as corporate stakeholders, and b their legal and moral responsibilities for the interests of stakeholders, and should address such conflicts through open communication, appropriate reporting and incentive systems and, where necessary, third party review.
The lower levels, manipulation, therapy, informing relate to situations in which the organisation is merely informing stakeholders about decisions that have already taken place, although these levels represent bad practice if done in isolation.
At middle levels, explaining, placation, consultation, negotiation stakeholders have the opportunity to voice their concerns prior to a decision being made, but with no assurance that their concerns will impact on the end result.
The highest levels, involvement, collaboration, partnership, delegated power, stakeholder control are characterised by active or responsive attempts at empowering stakeholders in corporate decision-making.Task 3 - Evaluate the influence different stakeholders exert in one organisation.
(D1) Deadline: Friday 14th Oct For one of your organisation's find an example of how stakeholder groups have exerted influence over the organisation.
D1 - Evaluate The Influence Different Stakeholders Exert In One Of The Orgainsations D1 Evaluate the influence different stakeholders exert in one of the organisations Stakeholders are people that affect or are affected by the business.
Construct a matrix to identify stakeholder influence and importance.
One basic tool of stakeholder analysis is the influence/importance matrix. This technique can be used in relation to a particular strategic development (such as the launch or withdrawal of a service).
Evaluate the influence different stakeholders exert in one organisation. I am going to evaluate the influence that stakeholders exert on Tesco.
I will be evaluating the following stakeholders: customers, employees, shareholders and suppliers. The first stakeholder I am going to evaluate is customers which are external stakeholders.
Evaluate the Influence That Different Stakeholders Exert in One of Your Chosen Organisations Evaluate the influence that different stakeholders exert in one of your chosen organisations. Every organization has stakeholders: these are groups or individuals that affect or are affected by the business.
The variety of our stakeholders and the breadth of our reach means we engage in different ways. Below are examples of our key stakeholders and the ways in which we engage with them. Bottling partners: day-to-day interaction, joint projects, joint business planning, functional groups on strategic issues, Top-to-Top senior management forum.