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Strategic Management Of Stakeholders

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I-am Mawunyo

on 22 July 2015

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Transcript of Strategic Management Of Stakeholders

On This Journey, We Will
identify who a stakeholder is
explore the 3 themes developed to identify and manage important stakeholders for a business's strategy for the future
consider other related researches
explain key terminologies
discuss my conclusion
state useful "takeaway"
Strategic Management of Stakeholders: Theory and Practice
Emmanuel Mawunyo Awoonor
Fran Ackermann & Colin Eden
We can define STAKEHOLDERS as
The Research: Three Themes
1. Identifying who the stakeholders really are

2. Exploring the impact of stakeholder dynamics

3. Developing stakeholder management strategies
Individuals, groups or organisations that have an interest in the activities and behaviour of a business.

Internal stakeholders: Employees, Partners etc.
External stakeholders: Customers, Suppliers, Government, Media etc.

All stakeholders can influence as well as be influenced by the company.


Theme - Identification of Stakeholders
Who is a stakeholder?
Those groups without whose support the organization would cease to exist

(Freeman and Reed, 1983, p.89)

Those groups or individuals who are affected by the organization as well as those who can affect it are among the number of an organization's stakeholders

(Bryson et al., 2002; Freeman and McVea, 2001)
What Approach?
Define key terminologies as we go along

Compare this article to "What To Do When Stakeholders Matter: A Guide to Stakeholder Identification and Analysis Techniques"
Prof. John M. Bryson, 2003

Practical application of the techniques to Vodafone starting operations in Ghana
This research is grounded both in theory and practice
*

Over a period of 15 years
*

16 Top Management Teams (TMTs)

Disaggregation and Uniqueness
Theme Exploring the Impact of Stakeholder Dynamics
Power - Interest Grid
SUBJECTS
Low Power
High Interest
PLAYERS
High Power
High Interest
CROWD
Low Power
Low Interest
CONTEXT SETTERS
High Power
Low Interest
Low
High
High
Power
Interest
Breaking down stakeholders into more unique and manageable details

So
REGULATORS
can be broken into IRS (TAX authority) , National Communication Authority (NCA) etc.

A newspaper can be further broken down to the journalist.
Stakeholder Disposition
Differentiating the good guys and the bad guys

Supporters and saboteurs
Prof. John M Bryson makes references to the definition of stakeholders
Acquisition of Ghana Telecom (GT) by Vodafone Group
Vodafone Ghana formerly Ghana Telecom (GT)
2006 had 400,000 customers
On 3 July 2008 GT was sold to Vodafone Group for 900 million USD
On 16 April 2009, the company was rebranded as Vodafone Ghana
After the sale government of Ghana retained 30% ownership and Vodafone Group 70%
The acquisition was made in the tenure of the NPP government
When the NDC government came to power they raised a lot of questions about the acquisition
Telecom South Africa made an offer of 1.216 billion USD for 66.67% ownership
The general public was agitated
Inefficiency, mismanagement, low level of productivity at GT
GT was the 4th Telco at the time by subscriber base
Source:
eTV Ghana, ModernGhana.com, The Insight Newspaper
Stakeholder-Influence Network
Relationships - Informal Power
Formal Relationships
employee <-> supervisor
agency <-> government department
newspaper <-> general public

Informal Relationships
playing golf together
having children at the same school
same social club
Helps to learn more about stakeholders
Identification of both stakeholders and interconnections between them is a critical step (Interaction between Stakeholders)
Stakeholder Management Web
Who is the stakeholder?
What do they want?
How are they going to try to get it?
Knowing this can help
define a wider set of
management action
Stakeholder Management Web cont...
The basic stakeholder analysis technique
Power versus interest grids
Stakeholder influence diagrams
Bases of power and directions of interest diagrams
Finding the common good and the structure of a winning argument
Tapping individual stakeholder interests to pursue the common good
Problem-frame stakeholder maps
Ethical analysis grids
Prof. John M. Bryson highlights in his article
Q & A
Stakeholder-Influence Network cont...
What is Stakeholder Theory?
Conclusion & Key Takeaways
It is useful for TMT to use techniques that are grounded in theory to formulate rational and sustainable strategies for stakeholder management.

Integrating all the techniques we looked at helps us to consider a stakeholder not only on the bases of their own actions but the network of coalitions that exist to guide us to formulate more robust and sustainable management strategy

These techniques will also get TMT members to dialogue more come up with good management strategy


Stakeholder Identification and Analysis Technique helps us:

Better managed relationships with key stakeholders
Identify risks associated with stakeholders
Make better strategies and decisions
Greater acceptance of organization actions by stakeholders when we are able to identify and manage them properly
Theme Developing Stakeholder Management Strategies
Stakeholder theory suggests that the purpose of a business is to create as much value as possible for stakeholders.

In order to succeed and be sustainable over time, executives must keep the interests of customers, suppliers, employees, communities and shareholders aligned and going in the same direction.
-
Financial Times
Stakeholders of Vodafone
Employees
“The best way to eliminate any enemy
is to make him a friend”

John M Capozzi, 1997
Full transcript