- Stakeholders: àIt can be any individual, or group, who can influence and/or is influenced by the achievement of an organization’s purpose. The stakeholders are necessary to obtain resources and keep legitimacy of business. If “you want to manage effectively, then you must take your stakeholders into account in a systematic fashion by (FREEMAN 1984).
- INFOSYS: Infosys limited is an Indian multinational information technology company that provides business consulting, information technology and outsourcing services. The company was founded in Pune and is headquarter in Bangalore. Infosys is the second-largest Indian IT company after Tata consultancy services by 2020 revenue figures.
- STAKEHOLDER ANALYSIS: It is the process of assessing a system and potential changes to it as they relate to relevant and interested parties. The information is used to assess how the interests of those stakeholders should be addressed in project plan, policy, program, or other action.
- STAKEHOLDERS MATRIX: It is a project management tool used to analyze a project stakeholder to determine the actions which are necessary to align their goals with the project. There are several different types of stakeholder matrices: power interest matrix. Stakeholder analysis matrix.
VARIETY OF STAKEHOLDERS
. OWNERS . DEALERS
. DIRECTORS . DISTRIBUTORS
. EMPLOYEES . BUSINESS ORGANIZATIONS
. CUSTOMERS . COMPETITORS
. SERVICE PROFESSIONALS
TYPES OF STAKEHOLDERS
PROBLEMATIC STAKEHOLDERS: Those who would oppose the organization’s course and relatively unimportant to the organization.
ANTAGONISTIC STAKEHOLDERS: Those who would oppose or be hostile to the organization’s course of action and very important for the organization.
LOW PRIORITY STAKEHOLDERS: Those who support the organization’s course of action and relatively unimportant to the organization.
SUPPORTER: Those who support the organization course of action and important for it.
THE IMPORTANCE STAKEHOLDER MATRIX
. NON-GOVERNMENT ORGANIZATION
. EXISTING EMPLOYEES
. COMPETITIVE COMPANIES
. LOCAL COMMUNITIES
SERVICE FRATERNAL, ETHICS ASSOCIATES
. EDUCATIONAL INSTITUTIONS
. CHAMBER OF COMMERCE
STRATEGIES TO DEAL WITH THE STAKEHOLDERS
STRATEGY FOR PROBLEMATIC: Target moderate stakeholders with educational programs, adjust corporate plans to accommodate stakeholders, and prepare defensive plans.
STRATEGY FOR ANTAGONISTIC: Identify potential coalitions and take defensive action, prepare for undermining of supporters, anticipate nature of objections and develop counter arguments, engage selected stakeholders in bargaining.
STRATEGY FOR LOW PRIORITY STAKEHOLDERS: Provide educational programs and promote involvement with supporters.
STRATEGY FOR SUPPORTER SHAREHOLDERS: Provide information to reinforce position, and ask supporters to influence indifferent stakeholders.
- Customers or Consumers
- Lenders and Creditors
- Service Professionals
- Dealers, Distributors, and Franchisees