What is a Stakeholder?

Stakeholders are shareholders, creditors, etc. who may have claims on the company's cash flow. A stakeholder in the management sense is any stakeholder in an organization's external environment that is affected by organizational decisions and actions.

Stakeholders

Stakeholders refer to shareholders, creditors, etc.

In the sense of management

Stakeholders can influence the organization, and their opinions must be taken into account when making decisions. But all benefits

Stakeholder Matrix Method

There are two ways to determine the position of stakeholders:

Power / Power Matrix and Power / Benefit Matrix, Power / Power Matrix

Predictability

High and low

Low AB

Few problems are unpredictable, but manageable

ring

High CD

High impact, but predicts the greatest danger or opportunity

Stakeholder analysis

as follows:

The diagram lists a power / motivation matrix on which the positions of various stakeholders can be drawn. Using this method can well assess and analyze where "political forces" should be introduced during the development of the new strategy.

1. The most difficult groups to deal with are those in zone D because they can support or hinder new strategies well, but their views are difficult to predict. The implication is clear: Before you can establish an immutable position, you must find a way to test these stakeholders' attitudes towards the new strategy.

2. In contrast, stakeholders in Segment C may influence the strategy through the involvement of managers who agree with their 'views' and build those that represent their expectations.

3. Although the stakeholder powers in segments A and B are small, this does not mean that they are not important. In fact, the active support of these stakeholders itself can have an impact on the attitudes of more powerful stakeholders.

Power / benefit matrix

Graphic: Stakeholder Power / Benefit Matrix

Benefit level

High and low

Low AB

Minimal effort to stay informed

High CD

Stay satisfied with key players

analyse as below:

A valuable development of the power / benefit matrix is shown in the diagram, which categorizes stakeholders according to their relationship with the power they hold and to what extent they show interest in organizational strategy. This matrix indicates the types of relationships that organizations need to establish with various stakeholders.

1. Obviously, in the process of formulating and developing a new strategy, it is important to consider whether the main role (segment D) accepts the strategy.

2. The most difficult stakeholders are often those in segment C. Although these stakeholders are relatively passive in general, it should be noted that the way stakeholders influence the strategy is affected by specific events , That is, specific events that drive them to influence the strategy. It is therefore important to consider the possible responses of stakeholders to future strategies. If their benefits are underestimated, they suddenly reposition themselves in market segment D and prevent the adoption of a new strategy, the situation will be bad.

3. Similarly, the needs of stakeholders in Segment B need to be properly addressed-primarily through information. They are a very important "alliance" in influencing the attitudes of more powerful stakeholders. The value of this method of stakeholder location lies in its ability to analyze whether the political / cultural situation may prevent the adoption of a particular strategy. Who is likely to be the main stopper and promoter of change, and whether it is necessary to maintain readiness in order to redefine specific stakes.

4. Maintenance activities are needed to prevent stakeholders from repositioning themselves. This means maintaining the satisfaction of the stakeholders in segment C and reducing the degree of contact with the stakeholders in segment B.