Running Head: STAKEHOLDER b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b 1
2-2 Memo: Significance of Stakeholder Analysis
MBA 687
SNHU
April 3,2022
STAKEHOLDER b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b 2
1. Stakeholder analysis can be defined as the tool, approach, or set of tools used for
generating knowledge relating to the individuals having a stake or interest in the organization
or its activities (Rakhmadany et al., 2020). It is useful in the organizational change
management process as it facilitates effective change management by accounting for and
incorporating the needs of the potential stakeholders. In organizational change management,
stakeholder analysis is vital to understand the needs and perspectives of the stakeholders,
identify potential resistance to change, and determine strategies in order to engage the
stakeholders and ensure successful change management.
• Stakeholder analysis will help in identifying the stakeholders of the organization
along with their personalities, interests, experience, and power within the
organization. The identities of the different stakeholders will significantly influence
their views on the change initiatives. It is mainly because of the power and status they
hold to impact the change initiative. For instance, the views of the management, which
is an important stakeholder, will have a huge influence on the change initiative. On the
other hand, the views of the indirect stakeholders will have less influence on the
change management process.
• The stakeholders of an organization encourage change by providing the organization
with the essential resources that are required for the change management process.
Through their expert knowledge and skills, they help the organization in developing
effective plans for successful change management. The stakeholders can inhibit
change by showing resistance to the change initiative.
2. There are a number of benefits of conducting stakeholder analysis. One of the significant
benefits is that it allows identifying as well as defining the characteristics of the key
stakeholders in the organization (Brugha & Varvasovszky, 2000). It helps in gaining insights
into the interests of the stakeholders in relation to the change initiative.
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Another benefit of stakeholder analysis is that it helps in identifying the potential conflicts of
interest among the key stakeholders. It allows effective management of such relationships
during the process of organizational change (Brugha & Varvasovszky, 2000). It also helps in
finding the potential resistance of the stakeholders to change. This, in turn, can help in
determining and developing strategies in order to gain the acceptance of the stakeholders and
convince them of the change initiative.
The third benefit of stakeholder analysis is that it helps in assessing the capacity of the
important stakeholders to participate in the change management process. It can also help in
assessing the particular type of participation by the key stakeholders (Brugha &
Varvasovszky, 2000).
3. According to the Leader’s Self-evaluation, the key people in the organization are the vice
president, sales manager, accounting manager, team leader and customer success manager.
The critical stakeholders in the organization include the vice president, accounting manager,
sales manager, team leader, as well as customer success manager.
One of the stakeholders who would be interested in enabling change in the organization is the
vice president. It is because the vice president leads all the departments of the organization as
well as heads the operations of the whole organization. The vice president is well aware of the
internal and external competitive landscape and has knowledge of the different growth and
expansion opportunities in the market. The vice president may support the change in order to
create a positive environment in the organization and retain the existing workforce while
attracting new employees.
4. All the vital information has been provided relating to the leadership of the company for
performing the stakeholder analysis. However, I will require some additional information for
the stakeholder analysis. The information that I will require is related to the specific interests
STAKEHOLDER b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b b 4
of the key stakeholders in the organizations. This will help me in performing the analysis
more effectively and successfully.
References
Brugha, R., & Varvasovszky, Z. (2000). Stakeholder analysis: a review. Health policy and
planning, 15(3), 239-246.
Rakhmadany, A., Tahsinurridlo, M., Fauziyah, L., Rahmawati, N. A., & Aidah, S. (2020).
Stakeholder Analysis Program Jaminan Pangan Masyarakat (JAPANGMAS) Oleh PT
Pertamina (Persero) Fuel Terminal Rewulu. Empower: Jurnal Pengembangan
Masyarakat Islam, 5(1).
