2_2 Memo: Significance of Stakeholder Analysis
Marques Pedescleaux
Southern New Hampshire University
MBA 687 Leading Organizational Change
Professor: Chris Mendoza
3/16/2023
MEMO
To: The Executive Leadership Team
From: HR Consultant Rajeev Goswami
Subject: Significance of Stakeholder Analysis
Date: March 17th, 2023
In the following Memo, we will discuss the stakeholder analysis within
organizational change management and the benefits of conducting a stakeholder analysis.
In the end, we will be able to recognize and focus on crucial groups according to their influence
and concentration related to the change within the company.
.Use of Stakeholder Analysis
“The purpose of a stakeholder analysis is to outline the key stakeholders and their needs at the
start of the project. It is important to have a strong understanding of each stakeholder and what
each stakeholder group expects, because stakeholders’ needs and expectations may cause friction
between the groups or with the project’s core requirements.” (Hooray. L.(2022,August 8). The
different clusters of stakeholders have different ranges of influences and interpretations on
change initiatives. The reason behind this is that each group has different experiences and
skillsets.
Benefits of Stakeholder Analysis
The benefits of analysis are building understanding, the ability to get in shape, and staying ahead
In the industry. Stakeholder analysis helps in defining the project at an early stage and
supporting it. This will also help in understanding the benefits of the project. This also provides
management support for the project.
Key people in organizations
The key people in organizations are the Vice Presidents, Directors, Managers, and Team leaders.
These critical stakeholders could be influential in fostering change in the company. The key
stakeholders always want to stay ahead and empower changes in the organization. For
individuals and businesses to maximize their full potential will require organizational change.
Stakeholders want to ensure that the employees and the company are performing at their greatest
potential.
Conclusion
When conducting the stakeholder analysis, it is paramount to focus on the key stakeholder, for
each stakeholder has a unique influence on the organization and their perspectives on change.
The skills that each key stakeholders have can be used guide and to provide unique insights in
new projects.
Reference:
Hoory, L. (2022, August 8).What Is A Stakeholder Analysis? Everything You Need To
Know.Forbes Advisor.https://www.forbes.com/advisor/business/what-is-stakeholder-analysis/
Change Management 101: How Knowing Your Stakeholders Can Make or Break Your Project.
(n.d.). Cohen & Company. https://www.cohencpa.com/knowledge-center/insights/december-
2020/change-management-101-how-knowing-your-stakeholders-can-make-or-break-your-projec
