Professional Custom Accounting Papers: STAKEHOLDER ANALYSIS
STAKEHOLDER ANALYSIS 1
“Winning Support for your project”
Organization: Meridian Hospital
Department: Family Practice
Strategic Initiative: Improve Patient Experience Scores
Stake holder analysis and management is very essential to the success of each and every project in any organization which one works with. One can make a very big difference to his or her success and also in the career one is, just by engaging the right people in the right wat in his or her project. (Rachel Thompson, Mind Tools)
As one becomes more successful in the career, one may affect different people by the actions that one may take and the varies projects that one runs. It is interesting that the effect is directly proportional in relation to the more people that one’s action will affect the more likely that one’s action will impact more people Who may have a power and influence over one’s project. These kind of people could be of the work that one does or could the people opposing.
IDENTIFICATION OF STAKE HOLDER ANALYSIS TO IDENTIFY THE KEY PROJECT INFLUENCER AND OPPOSER PROJECTS
The stakeholder analysis is an important discipline that most successful people in the business have used for very many years to win support from others. This has helped them to ensure that varies business project go through while others don’t succeed.
Stake holder management is the technique that is being used to recognize the most important people who have to be won by time. A stakeholder plan is used occasionally to give support that helps one to succeed easily.
Here are some of the benefits that many business man and women use to them to gain support, when using stake-holder based approach.
1. First, one can use the opinion of the most powerful of the most powerful stake holder to shape the hospital projects at a very early stage. This dives a higher probability that they might support the project and also may improve the quality of the hospital project.
2. The support that is gained from power stakeholders in the business that could otherwise be a competitor, this can help the hospital project to win more resources and therefore it makes it more likely one’s project will be successful.
3. It also helps in anticipating what people may react to one’s project, “will they support or not?”.
4. This might ensure full understanding, this can also be achieved by early communicating early and frequently.
STEP 1 – IDENTIFY STAKEHOLDERS
There is a wide range of possible stakeholders for hospitals, as previously stated, it will be unnecesary to consider all these stakeholders. Some stake holders are generally influential and powerful, therefore hospital manager and top executives may not have ample time to consider all these and therefore there is every reason to focus on the most important ones. Knowing the important players is an important step to understanding how healthcare managers can better manage their stake holder.
The table shows some of the people that might be stakeholder in the hospital.
|Analysts||Share holders||Trade association||advisors|
|Lenders||Workers||The main stream media||Key contributors|
|Suppliers||Senior executive||government||Interest groups|
|Alliance partners||Team members||The public||Prospect groups|
It is very important to remember that both organizations and people are stakeholders. It is very important to identify the correct individual stakeholder in a specified organization.
STEP 2 PRIORITIZING STAKE HOLDERS.
Here the organization is required to have a list of people and other organization that are affect your specific project. Strong organization and people may have the power to either block or advance the project. As it the nature of human beings some may interested while other may not consider it seriously.
High power, interested people, these are the most likely people to support it to full success.
People who are less interested do not put enough in the organization project, they will become bored.
The other group that can be helpful is the group of people with less power, these people when talked to them to ensure no major issues are arising.
The other people, who are of low income and, they are also required to be monitored.
LAST STEP IS TO UNDERSTAND THE STAK HOLDERS
More knowledge about key stake holders very important. The organization needs to know how they are going to feel and the possible reactions to the project. The knowledge of how best one needs to ingage the project to the stakeholders is very important.
Below shows some key question that can help to understand key holders.
1. What can motivate them in certain conditions.
2. Do they have a current opinion of the organization? if yes what are that.
3. Do they have a financial interest in the project outcome, is it positive or negative? These should be known.
4. Do they have sufficient information?
5. By which medium do they want to receive information from the hospital? The organization should know the best medium to use when communicating to them.
6. Do they have influencer on your opinion? if yes then some of these influencers can be very essential stakeholders in their own way.
7. It is very important to know an alternative way to gain support if the stakeholder is not satisfied the during the first time.
The best way to get the right answers to all these question is to conduct a questionnaire directly to people who are known to respond correctly. It also to be noted that asking people’s opinion is often the first way to build trust.
As the projects continues, the organization becomes more important one may gain more and more support. Some stakeholder may have the power to undermine while others will support.
Stake holder analysis and management is very essential to the success of each and every project in any organization which one works with.
One way to keep communication of any business is by using a communication log. A good communication strategy is very essential. With time the action items and the dates can always be referred to good clarification and effective. The common objectives are to build awareness of the balanced scorecard, or strategic plan, at all levels of the organization. Secondly is to provide education on key balanced scorecard concepts to all audiences. The communication plan we are going to use is informational plan. Because it is informational and is clear.
Eskerod, P., & Jepsen, A. L. (2013). Project stakeholder management. Burlington, VT: Gowe Goodpaster, K. E. (1988). Business ethics and stakeholder analysis. Boston, Mass.] (Soldiers Field, Boston 02163: Division of Research, Harvard Business School