ASSIGNMENT : Stakeholder Analysis

Stakeholders are people who have an interest in a commercial entity including those within the organization and outside. These include the boss, senior executives, customers, suppliers, government, your co-workers, the team and others. All these people are important in the implementation and success of strategy. Stakeholder analysis is an important aspect to the financial management of a company. What do you understand by the phrase “stakeholder analysis”? Attempt a stakeholder analysis of an organization that you are closely associated with. Consider the strategic tool of “stakeholder analysis” to:

Identify people or groups and institutions that will influence your initiative
Anticipate the kind of influence, positive or negative, these groups will have on your initiative
Develop strategies to get the most effective support possible for your initiative and reduce any obstacles to successful implementation of your program.

SAMPLE SOLUTION

Abstract
The interest of stakeholders forms the foundation upon which the operations of an organization depends on. On the flipside, a stakeholder can also be affected by the activities being undertaken by an organization. There has to be a mutual relationship, which if well considered, will be for the good of both the organization and the stakeholders. A good stakeholder will always be concerned about the outcomes of an institution, especially in line to its intended adherence to financial objectives and customer expectations. A clear stakeholder analysis helps to identify the ways that stakeholders may…