Are you looking for an explanation of stakeholders analysis? Read this page to learn who stakeholders are and why and how companies analyze them. You’ll also find an example of Tesla’s stakeholder analysis.
🔝 Top-10 Stakeholder Analysis Examples
- Energy Industry in the United States
- Coca-Cola Company’s Mission, Vision, Stakeholders
- Toyota Company: Mission, Vision and Stakeholders
- Ford Motor Company's Competitive Advantage and Future
- Total Quality and Stakeholder Management
- General Electric Company's Ethically-Oriented Practices
- Abu Dhabi Oil Company's Strategic Analysis
- Meeting Stakeholder and Quality Needs
- Social Responsibility and Stakeholder Relationships
- Al Bawadi Islamic and Al Shurooq Banks Merger
🤔 Stakeholders Analysis: What Is It?
Stakeholder analysis is a necessary process for every business. Let us discuss it in more detail, highlighting some reasons for its importance.
Who Are Stakeholders?
A stakeholder is any party that can affect or be affected by a business. Initially, a company’s primary stakeholders included investors, employees, suppliers, and customers. Over time, with the advent of corporate social responsibility, this concept was extended to comprise governments, communities, and trade associations.
What Is a Stakeholders Analysis?
Stakeholder analysis is a process that begins with identifying the primary internal and external stakeholders before starting the project. They are then grouped according to their influence and participation in the project. Finally, the analysis determines the best methods to engage and communicate with stakeholders.
Why Is Stakeholders Analysis Necessary for a Project?
Stakeholder analysis is an essential part of strategic management for several reasons:
- It allows for enlisting organizational key players’ support.
- It ensures that all stakeholders are on the same wavelength.
- It helps tackle issues and conflicts early on.
⚙️ Stakeholders Analysis: Tools and Techniques
There are several ways to conduct a stakeholder analysis. In this section, we will describe 3 different tools and techniques you can use.
Stakeholder Knowledge Base Chart
This framework assesses stakeholders’ level of support and awareness of the project. It divides stakeholders into 4 groups:
|Aware & supportive||These are project champions, but they should not be taken for granted.|
|Aware & opposing||It is difficult to win over these stakeholders, so project managers should develop a plan to manage the risks associated with this group.|
|Ignorant & supportive||Project managers should keep in touch with these stakeholders to avoid losing their support.|
|Ignorant & opposing||This group is the main focus of project managers’ communication efforts because their attitudes toward the project can be changed.|
The Salience Model assigns stakeholders to different groups based on their legitimacy, urgency, and power. The framework puts stakeholders in 3 overlapping circles, forming a Venn diagram. Those fitting more than one category have the highest importance and require the most attention.
This stakeholders analysis tool compares stakeholders based on their authority and interest in the project. It looks like a matrix with 2 axes: one displays the stakeholders’ level of power, while the other shows their involvement in the project. This grid helps organizations focus their time and effort on those who can most contribute to the project’s success.
📝 Stakeholders Analysis Example
If you have never done a stakeholder analysis before, you might be at a loss as to where to begin. There’s no need to panic! We have prepared an example for your inspiration. Below, you will find the Tesla stakeholders analysis.
Tesla: Stakeholders Analysis
Tesla’s primary stakeholders include the following:
- Customers. Tesla wants to target both the high-end and the middle-class markets. These customers are concerned about product quality and price fairness. These stakeholders directly affect Tesla’s income, so the company should focus on satisfying their demands.
- Suppliers. Tesla relied heavily on suppliers to support its innovations and produce high-quality products. For example, the firm buys disc brakes from Europe and batteries from Japan. Therefore, the company should maintain strong relationships with its suppliers to avoid disruptions in operations and customer service.
- Investors. Tesla’s shareholders and investors are concerned with its profitability because their incomes depend on it. To satisfy these stakeholders’ interests, the firm should develop strategies to ensure its long-term growth.
- The government. The government is the main regulatory force behind Tesla. Therefore, it is considered one of the key stakeholders. Tesla should comply with public policy and laws regulating the automotive industry to meet the needs of this stakeholder. The company’s expansion is also consistent with the government’s goal of growing the country’s economy.
From this example, you have learned about Tesla’s major stakeholders and how they shape the company’s strategy. To conclude, stakeholders analysis is used in various sectors, including healthcare, the hotel and restaurant business, the construction industry, the bank sector, and many more. It is especially vital in the contemporary era of CSR since it allows companies to take responsibility for their influence on society.
🏆 Best Stakeholders Analysis Research Titles
- Stakeholder-Driven Change Management StrategyBusiness essay sample: Instead of the top managers dictating what changes need to be embraced, an organization should allow its stakeholders to be involved in change management.
- Corporate Social Responsibility and StakeholdersBusiness essay sample: The current paper is aimed to analyze the effect relationship between corporations and non-market stakeholders.
- Corporate Social Responsibility Role and StakeholdersBusiness essay sample: It is imperative to note that the role of corporate social responsibility (CSR) is an interesting topic that has been actively discussed by scholars.
- Business & Law. Company and Its StakeholdersBusiness essay sample: The company’s relationship with stakeholders is measured based on confidence, trust, and cooperation. The stakeholders’ interest in the company will be high if there is high trust.
- Ryanair in the European Low-Cost Airline IndustryBusiness essay sample: Ryanair's low model of growth has been leaned and aggressively sought by several low-cost airlines in Europe and in other parts of the world.
- Wal-Mart Company's Impact on StakeholdersBusiness essay sample: Only the customers benefited greatly from the presence of Wal-Mart stores. In the 21st century, shareholders are not happy with the current performance of the company.
- Strategic Management: Right Strategy for the Right ResultsBusiness essay sample: Completed a report that provided the necessary information that explains the reason why it would be profitable for all the investors to put up a huge investment for the creation of the said mall.
- Role of Stakeholders in HRDBusiness essay sample: This article describes about stakeholders, their role in HRD. It also explains the role and nature of learning and development in HRD.
- Wal-Mart: Their Strategy to GlobalizationBusiness essay sample: Wal-Mart’s success in global market is explained by a number o factors including effective marketing strategies, customer loyalty and huge financial investments.
- Epua Sugar Millers Firm's Stakeholders ConflictBusiness essay sample: This paper focuses on the social responsibilities of a sugar company its management and its stakeholders. It concludes by giving an insight on how to carry out proper management.
- Stakeholder Engagement Brief DescriptionBusiness essay sample: This paper would critically examine the role of stockholder engagement in modern project management that operates in the public and private sectors.
- Tukster Hotel: Business StrategyBusiness essay sample: The context of the business strategy of the Tukster Hotel will involve the in-depth analysis of the resources, capability, competitive advantage, and strategic formulation.
- ReAgent Company's Strategic ManagementBusiness essay sample: This paper provides an analysis of ReAgent, a chemical manufacturer, outlining the major areas that should be considered in terms of its strategic management and marketing.
- Stakeholders Theory: Managing for StakeholdersBusiness essay sample: This paper examines how different thinkers have answered the question concerning managing for stakeholders as opposed to managing for shareholders.
- Stakeholder Analysis: FIFA 2014 World CupBusiness essay sample: All FIFA's workers had the part to play to realize the success of the world cup in Brazil. Good team working and management are the factors that led to the success of the event.
- Management in the Coca Cola CompanyBusiness essay sample: With an old history, the brand Coca-Cola still holds leading positions on the global market due to advanced marketing strategies and constant urge for change and perfection.
- Strategic Management: Mission, Vision, and StakeholdersBusiness essay sample: The modern business environment is really severe. The question that should be answered in this paper is whether Toyota is a visionary company.
- Governance and Stakeholder Management PerspectivesBusiness essay sample: The primary objective of stakeholder management strategy should be to maintain approval and engagement. The stakeholder should be informed about any changes in the project and invited to all the collaborations.
- Netflix: Business Analysis and Issue IdentificationBusiness essay sample: The purpose of this article is to assess Netflix's competitive strategy and determine its performance now and in the long term.
- Tesla Inc.’s Operations and SuccessBusiness essay sample: Tesla is a technology-oriented company that strongly influences the world's opinion of the future of electric cars. It is subject to changes in global economic landscape.
- Strategic Management and Strategic Competitiveness: Apple Inc.Business essay sample: Apple Inc. invents new designs of electronics into the market while upgrading the existing products and services to meet the demands of customers.
🎓 Simple Research Paper Examples with Stakeholders Analysis
- Mergers & Acquisitions and Impact on StakeholdersBusiness essay sample: This essay will discuss the quality of mergers and acquisitions and the social and economic impact on various stakeholders to evaluate the current state of M&A development.
- Elon Musk Changing Tesla CompanyBusiness essay sample: This paper aims to analyze two significant changes introduced by Elon Musk to Tesla and discuss mistakes and competitive advantages achieved through implemented innovations.
- Zappos' Stakeholder-Centricity and Business SuccessBusiness essay sample: Zappos' success illustrates that an organization can accomplish outstanding results by adopting non-conventional approaches which emphasize employees’ and customers’ happiness.
- Company Analysis of Fly EmiratesBusiness essay sample: Emirates Airlines stand out as one of the most competitive companies in the business and its success can only be attributed to its competitive nature rather than through protectionism.
- How to Interest Stakeholders?Business essay sample: The paper establishes the plans and strategies the management of The Arsenal football club has to keep the stakeholders interested.
- Stakeholder Mapping Process Described Step by StepBusiness essay sample: The stakeholder mapping process is essential in the realization and definition of business success. The stakeholders have a significant impact and vital role in organizations.
- The Dubai Metro Upgrade ProjectBusiness essay sample: The concept of project management has gained massive popularity over the last two decades both in the private and public sectors.
- Business Stakeholders: Case Study of Ben’s Big Bins ExpansionBusiness essay sample: The paper discusses Ben's Big Bins expansion case gives an insight into how careful even a small company should be in relationships with its stakeholders.
- Server Installation Project: Communications Management PlanBusiness essay sample: This Communications Management Plan outlines how the information will be communicated among the stakeholders of the Server Installation project.
- Business Ethics: General InformationBusiness essay sample: The future of business ethics is information protection, acquisition and sale, significant data regulation, and cloud computing.
- Transformational Leadership in Welcome Aboard CaseBusiness essay sample: Cheryl Hailstrom is appointed the CEO of Lakeland Wonders. She plans to reach the board's growth goals and launch more products in the midmarket.
- Tesco Company's Strategic Management ToolsBusiness essay sample: The majority of organizations, including Tesco, choose to engage in strategic planning as a means of enhancing productivity and optimizing the allocation of resources.
- Managing Stakeholders’ ExpectationsBusiness essay sample: The main characteristics of interest that are relevant to primary stakeholders concern their financial position in the company and their direct contribution to it.
- Bridgestone Corporation's Strategic ReportBusiness essay sample: This paper will analyze Bridgestone's strategies before preparing a strategic report and recommendations for the organizational redesign.
- Program Governance Maturity ModelBusiness essay sample: This research has considered the program management maturity pattern to determine whether it can be a resolution for application management in state agencies.