Essays on Methods for Stakeholder Analysis Coursework

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The paper "Methods for Stakeholder Analysis" is a perfect example of business coursework.   A stakeholder is any organization or person who can be negatively or positively get affected or affect the actions of an organization, a government or a company. Persons who have a vested interest in the policy that is being implemented are stakeholders in the process. There are various categories of stakeholders. They include: Primary stakeholders: these are people directly affected, either positively or negatively by a company’ s actions. Secondary stakeholders: these are the ‘ intermediaries’ , that is, people or organizations who are indirectly affected by an organization's actions. Key stakeholders: these have a greater influence upon or importance within an organization.

They can also be classified in any of the first two groups Stakeholder analysis refers to the act of analyzing the attitudes of stakeholders towards something such as a plan. It is mostly used during the initial phase of preparation for a project to evaluate the attitudes of the stakeholders regarding the possible changes. Stakeholder analysis can be done on a regular basis or once in a while to monitor changes in stakeholder attitudes. Stakeholder analysis is a process of systematically collecting and analyzing qualitative facts to define whose interests should be taken into consideration when planning and implementing a project. The company must pay attention to critical communication to stakeholders to remain competitive and relevant in the marketplace.

A crucial aspect of maintaining success is built by leaders who are committed and have a strong foundation of communication, listening, respect, belief and trust in the creative potential of every worker. It is important to understand the needs of both the external and internal stakeholders.

This helps to identify the stakeholders and their duties in the stakeholder analysis process. Understanding is vital since it spells out the boundaries for each stakeholder. It helps the organization to develop a forum that will suit everyone depending on their category. The event manager must take into consideration the needs of both the external and internal stakeholders. Some the needs include the physical needs and also needs for safety and security. The present technologies can assist the managers of the event in servicing and involving the event audiences. By understanding how the set-up and nature of the event participant affect event status, the managers can mastermind their events inadequate manner to satisfy the need of the participant. The process of carrying out stakeholder’ s analysis entails eight major steps. The Plan phase: this is the first step in the process.

T defined the objective of the analysis. It also identifies the users of the information and develops a plan by using the facts. Policy selection: in many cases, the sponsor tables the proposal or a given project. It is ideals to take into consideration the stakeholder’ s interest before the project is formulated before starting the analysis Identify the main stakeholders: this is another important phase that identifies and prepares a list of the main stakeholders.

The best option is to have a list that shows the presence and the limits on the number of stakeholders depending on the available resources. Collection of information: information for every stakeholder is collected at this point. The projected management committee needs to collect and review secondary information on the stakeholders from various sources Interview of the priority stakeholders: this step involves acquiring accurate facts on the stakeholder's interests, positions, and ability to affect the process.

This is normally by using a structured and formal interview process. Filling the stakeholder table: This process entails making a stakeholder table or structuring the answers of the interview and other secondary information into a standardized and the desired format. The aim behind this is to make good comparisons and select the most important information. Stakeholder table analysis: The filled stakeholder table requires thorough analysis to compare facts and formulate conclusions on stakeholders' individual knowledge, importance, interests, and related aspects based on the interview process Using the information: The last step in stakeholder analysis involves putting the information to use.

The information gathered from stakeholder analysis is used to provide input to other analyses, to come-up action plans that will increase support for a plan, or to give a guide on the agreed process of building.

References

Kimmich, C. (2012). Methods for stakeholder analysis. S.l.: Europ Ischer Hochschulver
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