Stakeholder Analysis

Stakeholder Analysis

1 Briefly describe the seven steps of stakeholder analysis

A map stakeholder relationship

Before the stakeholder relationship has been made there are some questions that will be asked for analysis and identifying major stakeholder The stakeholder to be selected must knowledgeable current and close to the source of the issue at hand The stakeholder analysis is only as valid and reliable as the sources and the processes use to obtain the information For example if the Mattels recalls you would place the Mattel Inc in the centre stakeholder box and then continue identifying the other groups involved with that issue

B map stakeholder coalitions

After identify and make a map of the stakeholders who is going to involved in the firm in the incident addressed this step is to determine and map any coalitions that have formed The coalition among the stakeholder is important Interest groups and lobbyists sometimes join force against a common enemy If the numbers of the advantages is seeing by the competitor may join force Mapping actual and potential coalitions around issues can help the CEO anticipate and design strategic responses toward these groups before or after they form

C assess the nature of each stakeholders interest

There are four types of stakeholders the CEO may face in the company That is supportive nonsupportive mixed blessing and marginal The supportive and the nonsupportive will against the CEO While the mixed blessing and the marginal the CEO are less sure for their support for the strategy The opening example like Mattel if you are the CEO along with his staff you might determine that the support of Mattel would be many Nonsupportive stakeholders or those who may include some shareholders and their lawyers the Chinese government members of the US government the victims and their families consumers competitors and the media The interest of these stakeholders is varying By systematically completing this audit as a CEO in facing the crisis it can create a broader or more objective picture in the situation faced

D assess the nature of each stakeholders power

There are eight types of power that different stakeholders exert first voting power the ability of stakeholders to exert control through strength in numbers Second political power where the ability to influence decision making processes and agendas of republic and private organizations and institutions The third is economic power which the ability to influence by control over resources either monetary or physical Forth the technological power where the ability to influence innovations and decisions through uses of technology The fifth is the legal power by the ability to influence laws policies and procedure The sixth is the environment power where the ability to impact the nature The seventh is the culture power the ability to influence values norms and habit of people and organizations and the last one is the power over individuals and groups This is the ability to influence particular targeted persons and groups through different forms persuasions For instances the Mattel suggests that shareholders number of congress and individual constituent have voting power over the Mattel policies and officers jobs and responsibilities In that case the Chinese contractors and government representatives the economy power over the Mattel expenses and profit While the US government also use the political power for the Mattels operating and manufacturing polices and the process

E construct a matrix of stakeholder moral responsibilities

This step is to determine the responsibilities and moral obligations for company have to each stakeholder A matrix of stakeholder has their own responsibilities For example the Mattels CEO may see the firms economic responsibility to the owner to preventing as many costly lawsuits as possible Legally the CEO may want to protect the owners and the executive team from liability and damage This would entail proactively nego

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