Stakeholder Analysis Essay Paper
Stakeholder Analysis Essay Paper
The purpose of this assignment is to identify key stakeholders within your organization who are affected by, have influence over, or have an interest in solving the problem you are attempting to address with your action research project.
Stakeholder analysis requires you to examine a number of variables in relation to each individual or group you have identified. Use the \”Stakeholder Analysis\” spreadsheet to record the results of the stakeholder analysis.
In the analysis, list titles and groups of stakeholders. Do not list names of specific individuals. It is important to note the role each stakeholder has in the problem and solving it. Determine whether or not the individual or group has a negative, indifferent, positive, or very positive predisposition about the problem.
Within the \”Stakeholder Analysis\” spreadsheet is a tab labeled \”Current-State Matrix.\” Study the terminology related to influence and support and think about how each block describes the feelings a stakeholder may have about the problem and proposed solution. For example, there may be a group or individual that has a high degree of support in regard to solving the problem. If you know that person or group also has a high level of influence in how the problem is solved, it is important to think about how you will approach this person or group in terms of seeking information and presenting potential solutions. Taking time to rank the level of influence and support for each stakeholder is critical as you proceed because it may have a large role in determining whether or not specific problem solutions can be and are implemented.
Take the time necessary to conduct research that will help you determine possible stakeholder reactions and issues related to potential solutions. Think about the motivation, drivers, and expectations of exchange for each stakeholder, the problem, and the proposed solutions. Finally, consider the role of the stakeholder, including when the stakeholder needs to be involved in the change effort, any stakeholder management activities, and stakeholder deliverables and timelines. If a stakeholder will ultimately end up having a designated role in implementing the solution, the ability to articulate the role, scope, and timeframe will be of utmost importance.
Complete the \”Stakeholder Analysis\” spreadsheet and submit it to your instructor along with a 500-word summary of your findings. In the summary, discuss the following.
1. Summarize stakeholder attitudes about the identified problem and support your summary with specific data from your collection tool.
2. Summarize stakeholder attitudes or experiences related to previously implemented problem solutions and support your summary with specific data from your collection tool.
3. Summarize stakeholder ideas for potential solutions and support your summary with specific data from your collection tool.
4. Who are the stakeholders you will seek to act as sponsors to support you in the implementation of a problem solution? Provide specific reasons why these stakeholders are key to implementing a solution.
5. Who are the stakeholders that will likely be directly affected by solving the problem? Provide specific ways these stakeholders could be directly affected by solving the problem.
6. Who are the stakeholders who could pose potential roadblocks to solving the problem? Provide specific reasons why these stakeholders could pose potential roadblocks and what those roadblocks could be. Stakeholder Analysis Essay Paper
This summary will be used as part of the Business Proposal Presentation in Topic 7 and the Final Business Proposal you submit in Topic 8.
APA style is not required, but solid academic writing is expected.
This assignment uses a rubric. Please review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.
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Stakeholder Analysis
A review of the issue of concern reveals that the financial planning agency faces audit quality issues. As such, there is a need to develop and apply strategies to improve the quality of its end. Towards this end, a stakeholder analysis was conducted to identify the individuals and groups affects by efforts to address the audit quality issue. As a result, nine stakeholders were identified. The first stakeholder is the financial planning agency owners whose role is to track the business analytics and metrics, and work with the agency’s management to identify and resolve issues. The have offer positive support and have a positive influence. They are expected to support the change as it improves audit efforts, but would be concerned about associated costs. Their involvement is motivated by the need to with regulations to continue doing business and earning profits. The second stakeholder is employees who are a vital aspect of the agency’s development through functioning within the reasonable terms of their employment contract, serving faithfully, cooperating with the management, accounting for agency property, indemnifying the agency, and performing their duties with proper diligence and care. They offer positive support and have no influence. They are expected to have a neutral reaction to the change, but would raise concerns about effect on their work. They are motivated by the opportunity to work and continue earning. The third stakeholder is agency management who have a leadership role in terms of overseeing workers within the organization, and overseeing the agency through contributing to moral, organization and profits. They offer positive support and have positive influence. They are expected to support the change as it improves their management performance, but would present concerns about effect on the bottom line. They are motivated by the opportunity to improve management performance (Bourne, 2016; Eskerod & Jepsen, 2013).
The fourth stakeholder is customers whose role is presenting needs and desires that are satisfied to generate income for the agency. The offer positive support and have positive influence. They are expected to support the change since it offers them a clearer picture of the agency’s performance, but would raise concerns about how it affects their business interests. They are motivated by expectation to receiving value for their money. The fifth stakeholder is creditors who provide monetary loan, services and goods to the agency as a debtor with the promise of future payment. They have a positive influence on the change. They would not support the change as it changes the financial summary of the agency, and would raise concerns about how the change affects the agency’s financial health. They are motivated by continued financial health of the organization that guarantees them earnings. The sixth stakeholder is government agencies whose role is to regulate business activities through giving permission to form and operation, creating and enforcing contracts, taxation, and protecting customers, investors, employees and environment. They have a positive influence and offer positive support. They would support the change as it enables them to protect other stakeholders and ensures compliance with regulations/legislation. They are motivated by a need to protecting other stakeholders. The seventh stakeholder is investors whose role is to commit capital in the agency with the expectation of receiving financial returns at a future data. They have a positive influence on the change. They would be concerned about implications for their investments and whether they would receive financial benefits. They are motivation is financial returns on their investment. The eighth stakeholder is communities whose role is to facilitate smooth execution of agency activities, eliminate barriers to selection, source of insight, and offer lasting permission to interact. They offer neutral support and have neutral influence. They would have no reaction to the change as it does not directly affect them. They are motivated by support for their culture and way of life. The final stakeholder is suppliers. They provide high quality services and products at a good price for use or resale by the agency. They have neutral influence on the change. They would have no reaction to the change as it does not directly affect them. They are motivated by continued business opportunities (Bourne, 2016; Eskerod & Jepsen, 2013).
References
Bourne, L. (2016). Stakeholder relationship management: a maturity model for organisational implementation. Routledge.
Eskerod, P. & Jepsen, A. (2013). Project stakeholder management. Gower Publishing Company.
Stakeholder Analysis word document
I would like to use a Financial Planning Agency for this assignment because I will be using this same company that is chosen now to do my two final papers.
For the assignment please use at least 4 to 5 stakeholders in the spreadsheet that is provided.
