Stakeholder Analysis is the process of systematically gathering and analysing qualitative information to determine whose interests should be given priority, weighting or caution in consideration when developing and/or implementing a business outcome. It is the first step in managing a business’ stakeholders and an important process that successful businesses use to build sustainable positive relationships with associates and involved parties. Properly identifying those stakeholders who have high power/high interest compared to Low Power/ Low interest – and everyone in between – is a critical business risk mitigation action.
Understanding the needs and expectations of your stakeholders, and determining who are the relative influencers, interested observers, mandatory regulatory bodies, is a formative action that requires regular review.
Horizon SRM will deliver a stakeholder analysis with relevant recommendations for appropriate levels of engagement and response planning.
Horizon SRM stakeholder analysis will:
- Identify all relevant stakeholders
- Document those stakeholders’ needs and expectations (the two are often not the same)
- Assess & analyse stakeholders interest/influence
- Provide recommendations for managing stakeholders’ expectations
- Monitor actions taken
- Reviewing status & repeat