Stakeholder map and analysis assignment
This is a Team Assignment.
Choose one of the companies you researched in your previous assignments.
Opinion leaders from government, the private sector, and local communities play an important role in shaping business strategy. A clear understanding of the stakeholders that influence, or are affected by, our business is critical to the successful shaping of a CSR strategy. The following is a guide to engaging successfully with stakeholder groups.
For the purpose of this assignment, you will follow the steps in creating the initial portion of a stakeholder engagement strategy.
STEP 1: DEFINE STAKEHOLDER ENGAGEMENT
- Discuss the meaning of stakeholder engagement with your CSR team. Use the following questions to guide the discussion and build a strategy:
- Where can stakeholder engagement have the biggest impact on our operations? On our strategy?
- What is our motivation for engaging? [i.e. Reacting to external pressures; changes in legislation; developing business insights; shift in social issues and awareness; threats to our resources/way of doing business; protecting our reputation; response to a crisis; seeking innovation; building relationships; internal pressure for change; etc.]
STEP 2: STAKEHOLDER IDENTIFICATION AND MAPPING
- Brainstorm your stakeholder groups without screening for influence. List anyone and everyone that might have an interest in your objectives now and possibly in the future.
- Questions to help push your brainstorming beyond the obvious:
- Who are potential stakeholders from new markets? New technology?
- Who are our competitors’ stakeholders?
- What are new trends in sustainability? New regulations coming?
- Is our stakeholder group diverse? Are they influencers? Collaborators? Advocators? Objectors?
- Who are the loudest voices? [Hint – not always our biggest groups of stakeholders…..take a peek at social media to see who’s communicating about issues facing your organization or business practices]
- Analyze your list to understand the stakeholders’ relevance to your purpose and the influence they hold. You can use the following criteria to help your analysis:
- Contribution: does this stakeholder have information or expertise that can be helpful to the business?
- Willingness to engage: will the stakeholder be a part of the process?
- Influence: is their claim legitimate and how much influence do they have over the process? Whom do they influence? You directly, government policy, your customers, community?
- Necessity of involvement: are they important to the process? Will they derail it or make it less relevant if they are left out of the process?
- After a list is comprised, identify a list for prioritizing your stakeholder groups. This could be based on their level of interest, level of influence, power for negatively/positively affecting your business operations or reputation, regulatory influence, etc.
- Once identified, map the stakeholders on a matrix [provided]
- Use the matrix to prioritize the stakeholder.
- IDENTIFY CRITERIA FOR PRIORITIZING THE STAKEHOLDERS [this should be clearly communicated in the document]. It could be based on their direct influence, influence over others, effect on the business, affected by the business actions, etc.
- FOR THE PURPOSES OF THIS ASSIGNMENT, SELECT AND IDENTIFY YOUR TOP FOUR (4) STAKEHOLDERS AND PROVIDE YOUR RATIONALE FOR SELECTING THEM
- ONCE SELECTED, IDENTIFY THE ISSUES THAT ARE IMPORTANT TO THEM and explain their relevance to your engagement objectives.
- The quadrants on the mapping matrix can correspond to the following stakeholder matrix:
STEP 3: COMPANY ISSUES IDENTIFICATION AND MAPPING
Choose the top three issues that have contributed to the problems of the company and complete the following:
- Identify each issue;
- Identify the consequences each issue created for the company;
- Map each issue on the “Issue Life Cycle”. (Figure 3.1 in your textbook, page 52 in the hard copy of your textbook).
Explain how the company should manage each issue so it does not become a crisis. If the issue has become a crisis, explain where the company failed in managing the issue(s).
Identify how the company should avoid a repeat of these issues in the future.
|Evidence of Learning||What the Professor is looking for:||Highest Possible Grade|
|Stakeholder Engagement||You defined stakeholder engagement in your own words.
|Stakeholders Identified||You identified the stakeholders for the company you chose.||2|
|Identification of your Priority Stakeholders||You identified the company’s four top stakeholders. These are the company’s priority stakeholders. You identified why these are the four priority stakeholders and gave a reason why you chose these four.||5|
|Priority Issues||You identified the priority issues for each stakeholder. These issues should be related to CSR for each stakeholder.
|Stakeholder Mapping||You created a stakeholder map with four quadrants including problematic, antagonistic, problematic, and supporter. You correctly placed each of your identified priority stakeholders in the most appropriate quadrant. You provided an explanation below your matrix that identifies why you placed your priority stakeholders in the quadrant you did. You may have more than one stakeholder in one quadrant.||10|
|You identified three issues that the company you chose is facing re: CSR.||You identified these issues and explained what the concern is regarding each issue and the consequence if these issues become a crisis.||10|
|You placed each issue on the life issues cycle.||You drew an issues life cycle graph and identified where each issue lies right now, on that graph.||5|
|Spelling, Grammar, Academic Integrity, and APA formatting||Your assignment is free from spelling errors, grammatical errors, there is a demonstration that you followed Cambrian’s academic integrity policy, and you followed APA formatting for citations and references.||5|
|Assessment toward final grade:||20%|