Stakeholder Strategy
What you must understand
Stakeholder strategy is identification, analysis and planned engagement. Identify stakeholders broadly - internal and external, primary and secondary, formal and informal. Analyse with Mendelow's power–interest grid: high power/high interest = manage closely; high power/low interest = keep satisfied; low power/high interest = keep informed; low power/low interest = minimum effort. Consider Mitchell, Agle and Wood's salience (power, legitimacy, urgency). Map current and desired attitudes, and choose an engagement level: inform, consult, involve, collaborate or empower. A stakeholder strategy states objectives, messages, channels, owners and timing.
Traps
Power–interest is not the same as power–influence; some low-interest stakeholders can still block. 'Keep satisfied' for high power/low interest is often confused with 'manage closely'. Stakeholder mapping is dynamic and must be revisited. Avoid treating stakeholders as a homogenous group or focusing only on obvious internal groups. More engagement is not always better; it depends on the decision and the stakeholder. Engagement is not manipulation.
Worked example
A regulator has high power but low interest in a process change: keep satisfied with concise assurance and early notice of compliance impacts. A frontline team has high interest but low formal power: keep informed, involve in design and use as advocates. A sponsor has high power and high interest: manage closely with regular decisions and escalations.