Stakeholder Strategy
What candidates must understand
Stakeholder strategy starts with identification: who is affected, who influences, who supplies resources, and who can block. Separate primary stakeholders (essential to delivery) from secondary ones, and internal from external groups. Then analyse each stakeholder's power, interest, impact and attitude (supportive, neutral, resistant).
The classic tool is the power/interest grid (Mendelow): high power and high interest means manage closely and involve in decisions; high power and low interest means keep satisfied and avoid surprises; low power and high interest means keep informed; low power and low interest means monitor. Mitchell, Agle and Wood's salience model ranks stakeholders by power, legitimacy and urgency; those holding all three are definitive and demand immediate attention.
Strategy differs from analysis. For each group decide the desired attitude shift and the engagement approach: inform, consult, involve, collaborate or empower. Identify informal influencers and networks, because formal org charts hide opinion leaders. Re-map regularly; power and interest change as the programme progresses.
Traps
- Treating the grid as a one-off, static exercise.
- Assuming high power with low interest can be ignored; they can become blockers.
- Treating a stakeholder group as homogeneous.
- Confusing a communication plan with a stakeholder strategy.
- Ignoring informal influencers.
Worked example
A finance director has high power but low interest in a new HR system. Do not flood them with detail; instead agree a short, periodic briefing on cost, risk and milestones, and escalate decisions early. Rule of thumb: high power, low interest means keep satisfied, not keep informed.