Stakeholder Analysis Director of External Affairs, Loughborough University Jon Walker

Stakeholders? A person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies. Key stakeholders in a business organization include creditors, customers, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.persongroupdirectstakeaffectorganization's actionsobjectivespoliciesKeybusinessincludecreditorscustomersdirectorsemployeesgovernmentagenciesownersshareholderssuppliersunions communitydrawsresources

Many ways to do this…

Stakeholders  Stakeholders can feel like a mixed blessing!  Great assets – we need interested, engaged people with buy-in  But they also bring big demands!  Understanding stakeholders is:  All about QUESTIONS - asking the right questions, about the right people, at the right time  A never completed task…  Something we need to be alert to at all times  Above all a PEOPLE thing  Four Key Steps  Identifying your stakeholders  Analysing your stakeholders  What is changing?  What difference does this all make?

 Identifying your stakeholders  Who wants what, when and why? What is their ‘stake’?  So who are they?  What is their interest (stake!)?  What is the relationship?  Who wants what out of it?  Who benefits from the relationship?  Lets name as many as we can… Stakeholders – FOUR Key Steps 1

 Identifying your stakeholders  Who wants what, when and why?  Analysing your stakeholders  What are my priorities? Who matters most?  Not everyone is equal!  Who gets priority – the loudest voice?  Or the stakeholder with the most (negative or positive) impact?  …a chart….  Can we place some of the stakeholders we named on the chart? Stakeholders – FOUR Key Steps 2

Level of interest Low High Level of power/ influence High Minimum effort Key players Keep informed Keep satisfied Low Stakeholder Analysis (interest vs power/influence)

 Identifying your stakeholders  Who wants what, when and why?  Analysing your stakeholders  What are my priorities? Who matters most?  What is changing?  The dynamics within the analysis  Is there a time pattern, are there trends to look for?  Trends and changes often most significant  What are the changes and why?  Are old ways of working fit for the new environment?  Are things changing as I want them to?  Any big changes we should note? Stakeholders – FOUR Key Steps 3

Level of interest Low High Level of power/ influence High Minimum effort Key players Keep informed Keep satisfied Low Stakeholder Analysis (interest vs power/influence)

 Identifying your stakeholders  Who wants what, when and why?  Analysing your stakeholders  What are my priorities? Who matters most?  What is changing?  The dynamics within the analysis  Is there a time pattern, are there trends to look for?  What difference does this all make?  What response(s) or action(s)?  Does the analysis and understanding inform my actions?  Can we affect our stakeholder map?  How do we do that? Stakeholders – FOUR Key Steps 4

 Identifying your stakeholders  Who wants what, when and why?  Analysing your stakeholders  What are my priorities? Who matters most?  What is changing?  The dynamics within the analysis  Is there a time pattern, are there trends to look for?  What difference does this all make?  What response(s) or action(s)? From Stakeholder Analysis (passive) to Stakeholder Engagement (proactive) Stakeholders – FOUR Key Steps