2.3 - Understanding stakeholders

Question 1

What is a stakeholder map?

Answer 1

A stakeholder map can be used to display the relative power and interest of different stakeholder groups.

Stakeholders with high power and high interest will need to be managed closely and consultation may be appropriate for these individuals and groups.

Stakeholders with high power and low interest will need to be kept satisfied as they have the power to influence the business if they become dissatisfied.

Stakeholders with low power and low interest will need to be monitored though they lack influence and interest in many business decisions.

Stakeholders with low power and high interest need to be kept informed and consultation may be appropriate.

Question 2

Give two examples of internal stakeholders.

Answer 2

Employees.
Shareholders.
Ownership.

Question 3

Give two examples of external stakeholders.

Answer 3

Suppliers.
Community.
Customers.
Government.