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Stakeholder analysis will enable you to explore the different voices that need to be considered when thinking about your strategic direction and plans.
Stakeholder analysis is:
The information from this analysis can be fed into your strategy, starting with their expectations of you in terms of your mission, vision and values, moving through to their expectations of you as a service deliverer or campaigner. A two-way continuous dialogue with priority stakeholders is key to achieving your preferred future.
A stakeholder is a person, group or organisation that has an interest in your organisation. Stakeholders have needs and expectations and can be internal or external to your organisation. Charities and other non profits have diverse stakeholder groups, often with conflicting needs and expectations, so prioritising and focusing on the voices that must be heard is vital.
They can be further divided into direct and intermediary stakeholders:
1. List all of your stakeholders.
2. Then, consider them in terms of their interest in you and their influence or power over you.
3. Plot them out on the Power/interest matrix (see below)
4. Then complete the stakeholder expectations chart (see section below).
Download larger version of the power/interest matrix (JPG)
The matrix plots stakeholder power on the vertical axis and stakeholder interest on the horizontal axis. Each stakeholder will fall into one of the zones within the matrix, determining the appropriate course of action. These zones are ‘monitor’, ‘keep satisfied’, ‘keep informed’ or ‘encourage and influence’.
In the stakeholder expectations chart you provide more detail about the needs and expectations of the important stakeholders: those you really need to get to know better.
The diagram shows engagement on the y axis plotted against the their degree of action, desire, interest and attention.
Once you’ve isolated your main stakeholders, the ones you need to understand and invest time in developing a relationship with, use this table to expand your thinking and develop a stakeholder management strategy.
Consider their needs and expectations in relation to your mission and strategic direction. To what extent can you meet their needs and expectations within your Objects? What will your strategies be?
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