Updated: Apr 24, 2019
The stakeholder analysis is a key component to communications strategy development. By conducting the analysis, the decision makers in your organisation are better equipped to assess the human forces that are supportive of your objectives or are detracting from your objectives.
Conducting the stakeholder analysis in accordance with stakeholder forecasting and risk analysis, gives a robust picture of what we our stakeholders will be doing now and into the future. Using this analysis the organisation can work out how to engage with each stakeholder based on their shifting levels of interest and power, now and into the future.
What Is Stakeholder Analysis?
Stakeholder analysis is a process of systematically gathering and analysing qualitative and quantitative information to determine whose interests should be taken into account when developing the organisation's strategy or implementing plans and how to engage stakeholder.
Points to consider: An analysis should identify the characteristics of the stakeholder and relationship to the organisations objective (this gives some context). However a deeper analysis should also identify the impact and likelihood of the impact on the organisation's objectives, as well as what interventions are suitable for each stakeholder based on their power and interest.
The VUCAP Spectrum of stakeholder engagement can assist in understanding what level engagement and techniques should be used to effectively manage stakeholder relations.
Who Is a Stakeholder?
People or organisations will have interests in your objectives and in some cases they will also have power to affect your objectives. This interest and power can often manifest into action where the person or organisation takes a position or a "stake". We consider these to be stakeholders. Organisations with power and interest in your objective, who directly or indirectly act in accordance with that power or interest.
Points to consider: At VUCAP we generically define stakeholders into the categories, these being, Government, Community Organisations, Non Government Organisations, or Commercial Organisations or Individuals. Depending on the organisation and the objectives, these categories can be much more specific.