What is Stakeholder Management?-Urdu/Hindi - YouTube

in this video we will study about stakeholder management

we will study in detail that which functions or activities are performed in stakeholder management

first of all lets discuss its definition, what exactly stakeholder management is?

stakeholder management is the process of stakeholder's identification

grouping and analysis of stakeholders

develop stakeholder management & engagement strategies

communicate with stakeholders and monitor stakeholders

this entire process is called stakeholder management

now study in detail that which process or activities are performed in stakeholder management

first one is stakeholder identification

stakeholder identification means you identify or list down all of your stakeholders

it includes internal stakeholders means which are internal to your organization

and external stakeholders which are outside the boundary of your organization

external stakeholders are contractors, media, suppliers &regulatory bodies etc.

internal stakeholders means which are internal to the organization e.g. employees, managers

chief financial officer (CFO), chief executive officer CEO, chief information officer CIO

all the departments or divisions in an organization are also internal stakeholders

internal stakeholders are with in the organization while external are outside the boundary of the organization

this is about stakeholder identification

in stakeholder identification you identify all stakeholders which are obvious, active or inactive or potential stakeholders

all potential or dormant stakeholders are also included in the list

once the stakeholders are identified then these are grouped together

grouping of stakeholders may be made on different aspects for example supportive or adversarial stakeholders

the stakeholders which support organization business operations or its existence or the stakeholders which don't support

categories may be made (supportive or adversarial) and stakeholders are grouped in those categories

next important thing in stakeholder management is stakeholders expectation analysis

stakeholders are always involved in execution of any project

no project is completed without stakeholders involvement

for example an organization which provide technical assistance to their clients

both client and organization which provides services are stakeholders

client has some expectations

analysis of these expectations is very important

because expectation analysis provide you clear picture that what exactly client want from us

or from the organization whom which services are acquired by client

expectations of client

in stakeholder management you critically analyze you stakeholder's expectations

after expectation analysis you can form strategies of stakeholder management

how you will manage your stakeholders, how you will engage your stakeholders in organization business operations, projects

for this purpose SWOT analysis is made

SWOT (strengths, weaknesses, opportunities, and threats)

after SWOT analysis stakeholder management & engagement strategies are made

which stakeholder is very much powerful or having what kind of interest in the organization

stakeholder power/interest matrix could be formed

to analyze that which stakeholder is very much powerful or having what kind of interest in the project

if a stakeholder(s) is with high power and high interest in the project

these kinds of stakeholders should be fully involved in the project and should be supportive too.

if the stakeholders with high power and high interest in the project but don't support such project are called adversarial stakeholders

these stakeholders are very dangerous for project, they halt the execution of the project

because they don't support the project

next important thing in stakeholder management is communication with stakeholders

communication is very important with both internal & external stakeholders

what include in communication

for example a regulatory body which is outside the organization, communication is made with regulatory body related to share regulatory compliance material

communication between client & vendor, client gives its requirements to vendor

vendor take some actions against requirements, which is in compliance with requirements

this communication among stakeholders

stakeholders are monitored

stakeholders behavior is continuously monitored

the stakeholders which were supportive previously are now turned in adversarial now?

if this happens this is very dangerous for project and organization

if stakeholders are not supportive

with the existence of adversarial stakeholders an organization cannot run its operations

that's why stakeholders are closely monitored so that supportive stakeholders may not turn into adversarial

or there is a need to update stakeholder list, new stakeholders may be added time to time

check the list continuously and communicate with new stakeholders

and expectation analysis is also needed to satisfy their requirements

stakeholder management is the process of stakeholder's identification, stakeholders grouping, stakeholders expectation analysis, stakeholder management &engagement strategies

communication and monitoring of stakeholders

this is all about stakeholder management

SUBSCRIBE