Sustainable Entrepreneurship “Stakeholder Mapping” BU6019 Sustainable Entrepreneurship “Stakeholder Mapping”

Consider: Stakeholder Theory When making decisions, Entrepreneurs may wish to consider the interests of their stakeholders Think about, for example, setting your SMART objectives! So... just how much “Power” do stakeholders have? This begs the question: Who is an Entrepreneur really responsible or answerable to? (Is the answer “Society”?)

Do you agree/disagree? It's good to think! Responsible behaviour is financially good for any business enterprise! Do you agree/disagree? … why though?

Groups of Stakeholders (someone who has an interest in our business activity) Creditors Media Local Councils Local Community Government Departments Banks Shareholders Customers Competitors Private Investors Suppliers Lobby Groups Employees Activity: Working with a colleague, identify what interests each of the above groups of stakeholders will have in a business. Please be prepared to discuss your responses.

Remember: Different stakeholders may have different motivations for wanting to be involved with the actions/activities of an enterprise! Sustainable Development = “The goal of fostering capabilities and creating opportunities” – Holling (2001)

- Natural Resources Canada (2008) Now, think about ….. “The commitment of being a model forest includes a willingness to contribute and share knowledge, and expertise, about sustainable development and sustainable forest management” - Natural Resources Canada (2008) So, if “collective action” is to be found, consider: A) Allow “local” people to initiate action from “bottom up”, or, B) Allow external factors (e.g. PESTLE) to force actions from the “top down”! - Think about your assignment here!

Stakeholder Mapping Low High A Minimal Effort B Keep Informed Low C (Level of Interest) Low High A Minimal Effort B Keep Informed Low (Power) C Keep Satisfied D Key Players High Analysing to what extent stakeholders can influence a business!

Sustainable entrepreneurship: Stakeholder problem solving! Consider: Reinforcement strategies for supportive stakeholders Containment strategies for obstructive stakeholders Stabilization strategies for passive stakeholders

Now: An activity workshop! And finally.... “A stakeholder informed approach has been adopted that takes into account … factors influencing... planning and development” - Acolla Lewis (2004) Now: An activity workshop! (Self Study: Continue to work on your assignment!)