A Stakeholder Analysis: Lakeside Hall Hotel
• A stakeholder analysis usually involves a five step process:
1. Identification of the key stakeholders
2. Listing the specific claims that the stakeholders may have on the organisation
3. Reconciling the claims of the differing stakeholders
4. Assigning priorities to the claims
5. Co-ordinating the claims with the mission of the firm
Answer the following questions
• Who are your organisations stakeholders?
• How do they benefit from the organisation?
• How do you measure the benefits they receive?
Interest Importance Influence Priority
Use the above table to outline who the stakeholders are.
• Assess each stakeholder’s importance and their relative power/influence.
For example, some stakeholders may be of high importance but low influence, or low importance but high influence.
You can then rank/rate each stakeholder’s importance from 0 (zero importance) to 10 (vital).
• Identify risks and assumptions which will affect the hotels success.
What do we assume each stakeholder’s response is if the proposed changes are successful?
Are these assumptions realistic?
Are there negative responses?
What impact will negative responses have?
Importance, Influence and priority can all be ranked numerically. The actual figures are not important, but ranking allows a better indication of the importance of something.
10 = vital
9 = extremely high
8 = very high
7 = high
6 = medium-high
5 = medium
3 = low
2 = extremely low
1 = zero