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Industrial Strategy 2022

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Question:

What is a key model to use when dealing with stakeholders?

Author: Hjalmer Pedersen



Answer:

Stakeholder mapping model: Identifies which stakeholder hold more power, AND care more (pay close attention) to what management does. So managers must see the political landscape, and act in line with it. The power/attention matrix is useful for: • Assessing stakeholders (or stakeholder coalitions) for or against strategies. • Determining who facilitators or blockers of a strategy are likely to be. • Managers can cultivate potential supporters and building coalitions of supportive stakeholders, and/or keep antagonistic stakeholders appeased, or disempowered, or ‘asleep’. • This is all part of good strategy (how to win) Key questions when using stakeholder mapping: • Whose interests and expectations should the strategy prioritise? • Who are the key blockers and facilitators of existing or proposed new strategy? • Will stakeholder positions shift according to the issue/strategy being considered? • Will the level of interest or power of key stakeholders remain high? Will new ones emerge? • Can antagonistic stakeholders be strategically diverted or ‘repositioned’?


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Stakeholder mapping model: 
Identifies which stakeholder hold more power, AND care more (pay close attention) to what management does. So managers must see the political landscape, and act in line with it.

The power/attention matrix is useful for: 
•	Assessing stakeholders (or stakeholder coalitions) for or against strategies. 
•	Determining who facilitators or blockers of a strategy are likely to be.
•	Managers can cultivate potential supporters and building coalitions of supportive stakeholders, and/or keep antagonistic stakeholders appeased, or disempowered, or ‘asleep’.
•	This is all part of good strategy (how to win)

Key questions when using stakeholder mapping:
•	Whose interests and expectations should the strategy prioritise?
•	Who are the key blockers and facilitators of existing or proposed new strategy?
•	Will stakeholder positions shift according to the issue/strategy being considered? 
•	Will the level of interest or power of key stakeholders remain high? Will new ones emerge?
•	Can antagonistic stakeholders be strategically diverted or ‘repositioned’?
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