In the field of business administration, business analysis and stakeholder analysis both play a role in the management and development of the business. According to Wikipedia, stakeholder analysis is “the process of the impact of a decision on relevant parties.”
It is uncommon to see analysis examples about stakeholder analysis because you tend to focus on the analysis of the products and services, management, competitors, financial assessments, that you forget about the people who also have great influence in running the business.
Stakeholder Impact Analysis
Stakeholder Needs Analysis
Stakeholder Power Analysis
Stakeholder Behavior Analysis
Stakeholder Business Analysis
Stakeholder Customer Analysis
What Is the Purpose of Stakeholder Analysis?
If you’re familiar with SWOT analysis, you’ll notice some similarities with the stakeholder analysis. The purpose of stakeholder analysis is for you to be able to know the interests of the stakeholder, which is important because stakeholders have the authority and responsibility to decide for the company. It is also helpful in identifying which of the stakeholders are what we call as negative stakeholders. They are the ones who will block any project even if it has a potential to help the company. Another purpose of this analysis is to identify the people who should be informed about the project.
How to Do a Stakeholder Analysis
Analysis templates could be used as a guide once you familiarize the needed contents and steps to follow on how to do a stakeholder analysis.
- Begin the analysis by brainstorming. Know the stakeholders, determine who is very dependent on the resources, who possesses the biggest percentage, which of them are very knowledgeable, and identify if there are any current issues affecting the stakeholders.
- Know your priority. Possibly, there would be lots of stakeholders. It is important to prioritize, so list them according to power, interest, or knowledge.
- Get to know and understand stakeholders. This would help you determine how and why they would react to your proposed projects, and what keeps them motivated.
Stakeholder Employee Analysis
Stakeholder Gap Analysis
Stakeholder Management Analysis
Stakeholder SWOT Analysis
Stakeholder Communication Analysis
What Is the Significance of Stakeholder Analysis?
Like any other analysis samples, stakeholder analysis has its own significance that is different from other analysis like business analysis or investment analysis. Stakeholder analysis is important for the project to identify what interests the stakeholders of the company who may be affected or whose decisions could affect the project. It could help identify the possible conflicts and the potential risks that could greatly affect the business, and could help determine what appropriate strategies should be implemented. In addition, stakeholder analysis could help find ways that could minimize the negative consequences, if there are any.
When to Use Stakeholder Analysis
In contrast to market analysis, which is usually part of the planning before a project is implemented, stakeholder analysis is not only used before but it could be done all throughout the entire process of the project. During the proposal, stakeholder analysis is used when you have to decide who are important and influential that are needed to be involved in the program. During analysis of the whole project, the stakeholder analysis will help determine what the stakeholders will do to serve as the evaluator on the outcome of the project, whether it was a success or not.
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