requirements. If key stakeholders are committed to the success of the activity and fulfil their responsibilities to contribute to its success, the organisation will. Stakeholder Management is essentially stakeholder relationship stakeholders are commonplace and the requirement to engage stakeholders in public Many of these organisations recognise that stakeholder engagement is not about. The relationship between stakeholders and the organisation . at the centre of a web of contract relationships, buying in expertise when required. Clearly.
Diagram of stakeholder relationships
Stakeholders can be assessed systematically according to criteria such as influence, impact and alignment. For example, these questions can help assess their relevance: To what extent will your strategy affect each group, positively or negatively?
How robust is the existing relationship with them? What information do they need from you?
How do they want to receive it? Who influences their opinions about this issue, and who influences their opinions of you? Are some of these secondary sources therefore potential stakeholders as well?
Reputation and stakeholder relations :: Stakeholder relations
What is their potential to influence the business directly or indirectly via other stakeholderspositively or negatively? If they are not likely to be positive, what will get their support? How likely will actions towards one stakeholder group influence the attitudes of other stakeholder groups?
What are the consequences of this? A very good way of finding the answers to these questions is to talk to your stakeholders directly — tactfully of course!
You can help their thoughts by asking them questions through a process of facilitation.
Diagram of stakeholder relationships | Organisational Overview | Merafe Resources
People are often quite open about their views, and so asking them is often the first step in building a successful relationship. Seeking their advice is another good way to strengthen your relationship and add value from their input. Prioritize your stakeholders You may now have a long list of people and organizations that are affected by your work.
Some of these may have the power either to block or advance your activities. Some may be interested in what you are doing, others may not care. Each quadrant can be analysed in the following way. In a clockwise rotation: The style of participation for stakeholders needs to be appropriate for gaining and maintaining their ownership.
Stakeholders placed here can be highly important but having low influence or direct power, however need to be kept informed through appropriate education and communication. Stakeholders here have low influence and low importance and care should be taken to avoid the dangers of unfavourable lobbying and therefore should be closely monitored and kept on board.
Stakeholder relations management is a key skill
Stakeholders placed here can hold potentially high influence but low importance should be kept satisfied with appropriate approval and perhaps bought in as patrons or supporters. However, it is important to recognise, that the map is not static.
Changing events can mean that stakeholders can move around the map with consequent changes to the list of the most influential stakeholders. Monitor and manage stakeholder relationships Stakeholder management is essentially stakeholder relationship management as it is the relationship and not the actual stakeholder groups that are managed.
Principle 1 Managers should acknowledge and actively monitor the concerns of all legitimate stakeholders, and should take their interests appropriately into account in decision-making and operations. Principle 2 Managers should listen to and openly communicate with stakeholders about their respective concerns and contributions, and about the risks that they assume because of their involvement with the corporation.