How do you carry out a stakeholder analysis? - Deepstash
How do you carry out a stakeholder analysis?

How do you carry out a stakeholder analysis?

  • Start by brainstorming who your stakeholders are
  • Prioritize Your Stakeholders
  • Focus on Results

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What is Sustainability?

To be sustainable is to be resilient and adaptable in the face of inevitable change, and to be protected from the risk of collapse. Sustainability requires living within environmental limits, and it requires ensuring that any use of resources does not degrade human wellbeing by depriving future generations of those resources.

The concept can be applied to economic development, business, agriculture, or public policy etc.

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Create Value

The main purpose of business is to create value, and business value creation consists of three forms: 

  • Revenue generation, 
  • Cost reduction and 
  • Sustainability. 

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The Stakeholders Theory

In the 1990s, the term ‘triple bottom line’, abbreviated as TBL or 3BL, also known as ‘People, Planet, Profit’, became a popular formula for sustainability,

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Who determines, and to what extent, the success of the organization?

HOW TO USE THE MODEL:

The stakeholder approach is particularly useful in understanding complexity because it sees organizations as made up of different functional, internal, external or process components, departments, business units or whatever they are called, that have diverse relationships with each other.

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Stakeholder Analysis is the first step in Stakeholder Management. It is one of the most important aspects of business success. 

To start this process, you begin by putting together a list of the people who are affected by your work or are interested in what you are doing. You then rank them according to the interest they have in the project’s outcome and the power they have to impact it.

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An analysis of stakeholders will provide information on how best to manage stakeholder relationships by identifying strengths, weaknesses, opportunities, and threats in the process and allocate resources accordingly.

The outcome also identifies the various ways in which an organization can benefit different stakeholder groups, and then create policies that ensure these benefits are maximized while also striving to minimize the costs of attempts at meeting them.

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Sustainable Business

The most sustainable way to run a business is to make decisions in the interest of all stakeholders. The stakeholder relationship is a healthy relationship only when there is a pay-off for all parties. When any party within the stakeholder network receives little or nothing, the relationship will be weakened, and eventually severed by the withdrawal of the weaker partner.

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A business model shift is a deliberate and systematic move toward more relevance and value for customers, and as a result growth of your organization. Business model shift can reflect bold moves into wholly new business models. 

But more often, shifts start as small moves inside an existing business model that evolve into entirely new ways of creating value and relevance.

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Automation has a huge potential to change the nature of work, freeing up workers from tedious, repetitive, and precision work. Automation is a transformational change for owners, employees and customers, along with the society at large.

A McKinsey study estimates that around 50 percent of current work could be automated, and companies that support automation and AI end up creating better jobs.

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The Principles Behind Efficient Brand Sustainability
  • Taking a stance can help widen the addressable market. Socially-aware consumers don't just buy products, they buy the social, emotional, and functional stories behind products.
  • Long-term thinking is a competitive advantage in itself and it is often cost-effective due to the reduction of a brand's carbon footprint eventually reducing energy consumption.
  • Sustainability can help de-risk the business by leveraging social listening.
  • Brands that proactively focus on sustainability initiatives are capable of generating the greatest social and environmental impacts and long-term business growth.

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