Question

Using the impact/influence stakeholder framework below, identify at least one grouping of stakeholders in each quadrant.

a) Power Players
b) Dormant Supporters
c) High-Interest Players
d) Low-Interest Players
Based on your companys operations/business, identify and explain strategy(ies) that you will spell out to management to help manage each of these four (4) different stakeholders.

Answer 1

Using the impact/influence stakeholder framework, stakeholders can be grouped into Power Players, Dormant Supporters, High-Interest Players, and Low-Interest Players. Strategies to manage each group involve communication, involvement, feedback, community engagement, and compliance.

Step-by-step explanation:

Using the impact/influence stakeholder framework, there are four quadrants each representing different groupings of stakeholders:

1. Power Players: These stakeholders have a high level of power and influence over the business. They could include major shareholders, key executives, or government regulators. To manage these stakeholders, a company may develop strategies such as regular communication, addressing their concerns, and involving them in decision-making processes.
2. Dormant Supporters: These stakeholders have a high level of interest in the company but low power or influence. They could include loyal customers, local community members, or small suppliers. For dormant supporters, a company may focus on maintaining positive relationships, soliciting feedback, and rewarding loyalty.
3. High-Interest Players: These stakeholders have high interest but low power or influence. They could include activist groups, media organizations, or non-profit organizations. To manage high-interest players, a company may engage in dialogue, transparency, and proactive community engagement.
4. Low-Interest Players: These stakeholders have low interest and low power or influence. They could include casual customers, distant suppliers, or government agencies not directly involved with the business. For low-interest players, a company may prioritize efficient communication channels, minimal resources, and compliance with regulations.