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| picture by: caitysyourstar |
Every stakeholder has different interests in the company. A
shareholder will have a higher influence on the decisions taken by the
organization than a staff working as a technician in an organization. To
achieve balance in meeting the interests of all the stakeholders the
organization has to analyze the groups in accordance to how much influence they
have on the organization. This process is called stakeholder mapping. And it
involves asking the following questions:
2. What do they want and what will they accept?
3. How satisfied are they?
4. How much power do they possess?
5. What sort of power do they possess?
6. How compatible are their interests?
7. What conflicts exist?
To briefly explain the figure above, stakeholders amongst key
players have a high level of interest therefore a high level of power. The
policies and procedures carried out within the organization therefore must be
acceptable to them. For example in a resort the tourists can be a key player.
Stake holders in keep satisfied has low level of interest however has a
capability of becoming a key player therefore must be treated well, for example
low level management staff with a good pay and benefits will not protest
against the company. However if the actions of the company results in drawbacks
in his career the staff will resign from the company. A loss of a loyal
employee who has worked for several years is a huge loss in terms of how much
the company has invested on him, his knowledge and capability to handle the various
conflicts within the organization. Stake holders in keep informed has low level
of power and a high level of interest, for example pressure groups.