When any team or company is planning to put in place a major program or initiative, either internally or with customers, they have to understand that many stakeholders will usually be involved and have some level of influence on the outcome. This is not new and many groups have been quite successful in managing such efforts and influence. In many fields, the situation is changing, has changed or is no more. When yesterday, convincing one or two people was sufficient, it now requires that 3 of 4 times that number get involved. When moments ago, the final decision maker was the expert or the end user, the decision may now be in the hands of finance people or someone that will never “use” the final product. While this may be seen as trivial in some case, in a large number, it changes everything.
Summary of changes in decision making.
- The movement from the specific/expert decision maker to the financial decision maker is now happening around the world.
- It means that companies have to adapt and modify their approach in order to secure business success.
- While experts and field leaders remain critical in corporate success, other stakeholders cannot be ignored any longer.
- With an increasing number of stakeholders comes an augmented complexity in the strategies and plans of action.
- Concerted efforts will increase results and reduce costs thus ensuring optimal profitability.
We have helped clients determine their needs for a better approach in stakeholder management.
It remains critical to effectively identify the stakeholders and their decision making abilities.
And elaborate strategies and tactics to ensure an optimal movement of information, resource allocation and support.
Example of structured approach to Stakeholder management.
