Stakeholder Analysis – Class Assignment Strategic Management (Rothaermel) & Caps
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Question
Stakeholder Analysis – Class Assignment
Strategic Management (Rothaermel) & Capstone Business Simulation
Why focus on stakeholders?
In Strategic Management, Chapter 1, we learned stakeholders – internal and external – are individuals and groups that can affect or be affected by a firm’s actions. All companies have a range of stakeholders and, as the text says: Stakeholder impact analysis provides a decision tool with which managers can recognize, prioritize, and address the needs of different stakeholders.
The key benefit of analyzing your company’s stakeholders is that it informs and improves your managerial decision making. The tactical decisions you take to implement your company strategy will be, to a greater or lesser extent, influenced by stakeholders and, as managers, it’s your job to balance their often competing demands.
How do we develop a stakeholder strategy?
Strategic Management sets out a five-step plan for developing a stakeholder impact analysis – analysis which, in turn, informs your strategy and tactics. The steps are:
Step 1: Who are our stakeholders?
Step 2: What are our stakeholders’ interests and claims?
Step 3: What opportunities and threats do our stakeholders present?
Step 4: What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
Step 5: What should we do to effectively address the stakeholder concerns?
Your team will use the steps throughout your simulation experience and produce a final assignment in week 10. Templates to help you collect, coordinate and consider all the information you can on your various stakeholders follow. A rough outline for how you might work with the steps is:
Weeks 1 – 2 Step 1 and Step 2
Weeks 3 – 4 Step 3 and Step 4
Weeks 5 – 6 Step 5, working on identifying specific tactics to impact stakeholders
Weeks 7 – 8 Continue to update templates as tactics are applied and results examined
Weeks 9 – 10 Prepare and deliver full report
Alternatively, you can select one stakeholder in week one and go through steps 2 – 5 and then repeat this process for all other stakeholders. In this case, the first stakeholder you select is the most important one.
Make sure you cut-and-paste the list you create in Step 1 (TEMPLATE A – column 1) onto the subsequent templates to ensure you answer all questions, as they apply to all stakeholders. You will find that you cannot complete the steps in a rigid linear fashion, but that information will emerge and evolve as you get more experience in managing your company, and understanding both the competitive environment and your stakeholders. The templates are organic documents.
What is the assignment?
Prepare and present a stakeholder analysis presentation, outlining your company mission & vision statements, values and your company strategy, plus all the key stakeholders and their importance, influence and potential impact on your business.
Focus on one or several key stakeholders and outline the tactics your company used to manage them. Where did you struggle? What worked and what didn’t? It doesn’t matter if the tactics were successful or not, tell the story of your interaction with those stakeholders to the class.
While all companies in your industry will have similar stakeholders, their interests and claims, the opportunities or threats they represent, your responsibilities towards them and your tactics for addressing their concerns will vary.
Here are some suggested approaches, but feel free to create your own approach to this assignment as a team:
Devote time, each round, to discussing stakeholders and your response to them, noting all issues on the following templates to collect all the data you can. Present as a team.
After determining your stakeholders, their interests and claims and the opportunities or threats they present, assign each member of the team to one or a cluster of stakeholders. It becomes their responsibility to update each template, answering the question as it pertains to their assigned stakeholders. Each individual presents their stakeholder analysis.
Create stakeholder ‘personas’ to identify them through representative individuals, avatars to help you describe the company’s relationship to that stakeholder group. What are the challenges in satisfying this stakeholder? How do the needs of two different stakeholders compete? What were the trade-offs for your management team? One representative may present on behalf of the team.
When is it due?
Week 10.
TEMPLATE A
What is our company’s Mission Statement? Clearly write it below:
What is our company’s Vision Statement? Clearly write it below:
What are our company’s Values? List them below:
What is our company’s strategy? Clearly write your strategy below:
Step 1 & Step 2: LIST OF STAKEHOLDERS AND THEIR INTERESTS AND CLAIMS`
Stakeholder
What are our stakeholders’ interests and claims?
Do they, or are they likely to have Power, Legitimate Claims or Urgent Claims? Explain
Build this table throughout this assignment by adding new stakeholders.
TEMPLATE B
Step 3: OPPORTUNITIES AND THREATS
Stakeholder
What opportunities and threats do our stakeholders present?
TEMPLATE C
Step 4: OUR COMPANY RESPONSIBILITIES
Stakeholder
What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
TEMPLATE D
Step 5 a: TACTICS (ARE THEY CONSISTENT WITH YOUR STRATEGY?)
Stakeholder
What should we do to effectively address the stakeholder concerns?
TEMPLATE E
Step 5 b: How do you measure whether you addressing your Stakeholder’ concerns (hint, use the Balanced Scorecard and other measures used in the simulation)
Stakeholder
How do we measure that we addressed the stakeholder concerns?
Stakeholder Analysis – Class Assignment
Strategic Management (Rothaermel) & Capstone Business Simulation
Why focus on stakeholders?
In Strategic Management, Chapter 1, we learned stakeholders – internal and external – are individuals and groups that can affect or be affected by a firm’s actions. All companies have a range of stakeholders and, as the text says: Stakeholder impact analysis provides a decision tool with which managers can recognize, prioritize, and address the needs of different stakeholders.
The key benefit of analyzing your company’s stakeholders is that it informs and improves your managerial decision making. The tactical decisions you take to implement your company strategy will be, to a greater or lesser extent, influenced by stakeholders and, as managers, it’s your job to balance their often competing demands.
How do we develop a stakeholder strategy?
Strategic Management sets out a five-step plan for developing a stakeholder impact analysis – analysis which, in turn, informs your strategy and tactics. The steps are:
Step 1: Who are our stakeholders?
Step 2: What are our stakeholders’ interests and claims?
Step 3: What opportunities and threats do our stakeholders present?
Step 4: What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
Step 5: What should we do to effectively address the stakeholder concerns?
Your team will use the steps throughout your simulation experience and produce a final assignment in week 10. Templates to help you collect, coordinate and consider all the information you can on your various stakeholders follow. A rough outline for how you might work with the steps is:
Weeks 1 – 2 Step 1 and Step 2
Weeks 3 – 4 Step 3 and Step 4
Weeks 5 – 6 Step 5, working on identifying specific tactics to impact stakeholders
Weeks 7 – 8 Continue to update templates as tactics are applied and results examined
Weeks 9 – 10 Prepare and deliver full report
Alternatively, you can select one stakeholder in week one and go through steps 2 – 5 and then repeat this process for all other stakeholders. In this case, the first stakeholder you select is the most important one.
Make sure you cut-and-paste the list you create in Step 1 (TEMPLATE A – column 1) onto the subsequent templates to ensure you answer all questions, as they apply to all stakeholders. You will find that you cannot complete the steps in a rigid linear fashion, but that information will emerge and evolve as you get more experience in managing your company, and understanding both the competitive environment and your stakeholders. The templates are organic documents.
What is the assignment?
Prepare and present a stakeholder analysis presentation, outlining your company mission & vision statements, values and your company strategy, plus all the key stakeholders and their importance, influence and potential impact on your business.
Focus on one or several key stakeholders and outline the tactics your company used to manage them. Where did you struggle? What worked and what didn’t? It doesn’t matter if the tactics were successful or not, tell the story of your interaction with those stakeholders to the class.
While all companies in your industry will have similar stakeholders, their interests and claims, the opportunities or threats they represent, your responsibilities towards them and your tactics for addressing their concerns will vary.
Here are some suggested approaches, but feel free to create your own approach to this assignment as a team:
Devote time, each round, to discussing stakeholders and your response to them, noting all issues on the following templates to collect all the data you can. Present as a team.
After determining your stakeholders, their interests and claims and the opportunities or threats they present, assign each member of the team to one or a cluster of stakeholders. It becomes their responsibility to update each template, answering the question as it pertains to their assigned stakeholders. Each individual presents their stakeholder analysis.
Create stakeholder ‘personas’ to identify them through representative individuals, avatars to help you describe the company’s relationship to that stakeholder group. What are the challenges in satisfying this stakeholder? How do the needs of two different stakeholders compete? What were the trade-offs for your management team? One representative may present on behalf of the team.
When is it due?
Week 10.
TEMPLATE A
What is our company’s Mission Statement? Clearly write it below:
What is our company’s Vision Statement? Clearly write it below:
What are our company’s Values? List them below:
What is our company’s strategy? Clearly write your strategy below:
Step 1 & Step 2: LIST OF STAKEHOLDERS AND THEIR INTERESTS AND CLAIMS`
Stakeholder
What are our stakeholders’ interests and claims?
Do they, or are they likely to have Power, Legitimate Claims or Urgent Claims? Explain
Build this table throughout this assignment by adding new stakeholders.
TEMPLATE B
Step 3: OPPORTUNITIES AND THREATS
Stakeholder
What opportunities and threats do our stakeholders present?
TEMPLATE C
Step 4: OUR COMPANY RESPONSIBILITIES
Stakeholder
What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
TEMPLATE D
Step 5 a: TACTICS (ARE THEY CONSISTENT WITH YOUR STRATEGY?)
Stakeholder
What should we do to effectively address the stakeholder concerns?
TEMPLATE E
Step 5 b: How do you measure whether you addressing your Stakeholder’ concerns (hint, use the Balanced Scorecard and other measures used in the simulation)
Stakeholder
How do we measure that we addressed the stakeholder concerns?
Stakeholder Analysis – Class Assignment
Strategic Management (Rothaermel) & Capstone Business Simulation
Why focus on stakeholders?
In Strategic Management, Chapter 1, we learned stakeholders – internal and external – are individuals and groups that can affect or be affected by a firm’s actions. All companies have a range of stakeholders and, as the text says: Stakeholder impact analysis provides a decision tool with which managers can recognize, prioritize, and address the needs of different stakeholders.
The key benefit of analyzing your company’s stakeholders is that it informs and improves your managerial decision making. The tactical decisions you take to implement your company strategy will be, to a greater or lesser extent, influenced by stakeholders and, as managers, it’s your job to balance their often competing demands.
How do we develop a stakeholder strategy?
Strategic Management sets out a five-step plan for developing a stakeholder impact analysis – analysis which, in turn, informs your strategy and tactics. The steps are:
Step 1: Who are our stakeholders?
Step 2: What are our stakeholders’ interests and claims?
Step 3: What opportunities and threats do our stakeholders present?
Step 4: What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
Step 5: What should we do to effectively address the stakeholder concerns?
Your team will use the steps throughout your simulation experience and produce a final assignment in week 10. Templates to help you collect, coordinate and consider all the information you can on your various stakeholders follow. A rough outline for how you might work with the steps is:
Weeks 1 – 2 Step 1 and Step 2
Weeks 3 – 4 Step 3 and Step 4
Weeks 5 – 6 Step 5, working on identifying specific tactics to impact stakeholders
Weeks 7 – 8 Continue to update templates as tactics are applied and results examined
Weeks 9 – 10 Prepare and deliver full report
Alternatively, you can select one stakeholder in week one and go through steps 2 – 5 and then repeat this process for all other stakeholders. In this case, the first stakeholder you select is the most important one.
Make sure you cut-and-paste the list you create in Step 1 (TEMPLATE A – column 1) onto the subsequent templates to ensure you answer all questions, as they apply to all stakeholders. You will find that you cannot complete the steps in a rigid linear fashion, but that information will emerge and evolve as you get more experience in managing your company, and understanding both the competitive environment and your stakeholders. The templates are organic documents.
What is the assignment?
Prepare and present a stakeholder analysis presentation, outlining your company mission & vision statements, values and your company strategy, plus all the key stakeholders and their importance, influence and potential impact on your business.
Focus on one or several key stakeholders and outline the tactics your company used to manage them. Where did you struggle? What worked and what didn’t? It doesn’t matter if the tactics were successful or not, tell the story of your interaction with those stakeholders to the class.
While all companies in your industry will have similar stakeholders, their interests and claims, the opportunities or threats they represent, your responsibilities towards them and your tactics for addressing their concerns will vary.
Here are some suggested approaches, but feel free to create your own approach to this assignment as a team:
Devote time, each round, to discussing stakeholders and your response to them, noting all issues on the following templates to collect all the data you can. Present as a team.
After determining your stakeholders, their interests and claims and the opportunities or threats they present, assign each member of the team to one or a cluster of stakeholders. It becomes their responsibility to update each template, answering the question as it pertains to their assigned stakeholders. Each individual presents their stakeholder analysis.
Create stakeholder ‘personas’ to identify them through representative individuals, avatars to help you describe the company’s relationship to that stakeholder group. What are the challenges in satisfying this stakeholder? How do the needs of two different stakeholders compete? What were the trade-offs for your management team? One representative may present on behalf of the team.
When is it due?
Week 10.
TEMPLATE A
What is our company’s Mission Statement? Clearly write it below:
What is our company’s Vision Statement? Clearly write it below:
What are our company’s Values? List them below:
What is our company’s strategy? Clearly write your strategy below:
Step 1 & Step 2: LIST OF STAKEHOLDERS AND THEIR INTERESTS AND CLAIMS`
Stakeholder
What are our stakeholders’ interests and claims?
Do they, or are they likely to have Power, Legitimate Claims or Urgent Claims? Explain
Build this table throughout this assignment by adding new stakeholders.
TEMPLATE B
Step 3: OPPORTUNITIES AND THREATS
Stakeholder
What opportunities and threats do our stakeholders present?
TEMPLATE C
Step 4: OUR COMPANY RESPONSIBILITIES
Stakeholder
What economic, legal, ethical, and philanthropic responsibilities do we have to our stakeholders?
TEMPLATE D
Step 5 a: TACTICS (ARE THEY CONSISTENT WITH YOUR STRATEGY?)
Stakeholder
What should we do to effectively address the stakeholder concerns?
TEMPLATE E
Step 5 b: How do you measure whether you addressing your Stakeholder’ concerns (hint, use the Balanced Scorecard and other measures used in the simulation)
Stakeholder
How do we measure that we addressed the stakeholder concerns?
Stakeholder
What are our stakeholders’ interests and claims?
Do they, or are they likely to have Power, Legitimate Claims or Urgent Claims? Explain
Explanation / Answer
What is our company’s Mission Statement? Clearly write it below:
The company’s mission is to serve the community by producing eco-friendly products and supplying it at a revolutionary price. The firm strives to produce better quality of products using minimal resource.
What is our company’s Vision Statement? Clearly write it below:
The company’s vision is to produce house hold items with less usage of plastics and replace plastic products by hemp products in one decade.
What are our company’s Values? List them below:
The company values are as given below:
What is our company’s strategy? Clearly write your strategy below:
Customer focused growth strategy:
In this strategy, the firm produces products that are highly demanded by the customers to grow their market share. This strategy is highly aligned with the core values of the company. The firm achieves its growth by mainly focusing on customer oriented products.
The customer demanded products are produced using hemp to supply it at a revolutionary price in the markets. Customers’ demands are met at a lower reasonable price which induces the growth rate in the market.
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