How to Do Stakeholder Analysis

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A stakeholder analysis is different from a stockholder analysis. Stakeholders include stockholders and anyone else of importance to the company which also includes industry groups, key people, investors, employers, retirees and anyone that is affected or can affect the direction of the company. A stakeholder analysis is used to find and assess the importance of certain stakeholders over others. One of the best ways to do a stakeholder analysis is on a spreadsheet with each column helping you to focus in on your shareholder strategy recommendations.

Brainstorm a list of potential stakeholders. Make this column one. The title of the column can be "Stakeholders" or "Potential Stakeholders."

Look over the list of stakeholders and in column two, input the specific interests in which these stakeholders have. Think about the question "who benefits" when doing this part of the exercise. Name this column "Stakeholder Interests."

Study each stakeholder listed and in column three, and input the importance of the stakeholder to the success of the organization. Input "A" for very important, "B" for somewhat important and "C" for not very important. Call this column "Stakeholder Importance."

Input strategies for increased stakeholder support in the final column. Name this column "Strategy."

Develop no more than three recommendations for upper-level management, where stakeholders are concerned, based on the analysis. The strategies should be action-oriented and clearly defined.