Stakeholder Expectations

Last week I had written the blog “The dream of any company” on the proven path, seemingly ideal, taken by world class companies in consistently creating value to its stakeholders.

This week, I will explain how we have been helping our clients develop a common understanding of the expectations of their stakeholders using doHow®, our performance excellence platform.

Stakeholders being a generic term for those people who have a stake or interest in the respective business, it is of paramount importance to attach a name to each of the stakeholders.

Once we have set up the doHow® APP and created user profiles for as many people as necessary in our client’s company to cover all the functions and hierarchy levels for inclusiveness, everyone does their personal stakeholder assessment.

Name, Classification (Shareholder/Manager, Reportee/Colleague/Peer, Customer/Client, Government/Regulator, Supplier/Vendor/Partner, Creditor/Financer, Society/Community/Family), Context, Expectation, Interest, and Influence of the Stakeholder along with the Suggested Success Strategy based on our experience and level of Success Strategy Execution (Missing, Weak, OK (Normal), Good, Excellent) are entered by everyone to cover all the people in their work and life for each of them to be successful.

The personal stakeholder analysis serves as the preparation for a workshop with our facilitation, either F2F or Virtual, for discussing and establishing a common understanding of all the stakeholder expectations in smaller teams of 3-4 people with our doHow® Inspirational Persuasion Methodology.

Our belief is that people in any company want to succeed and not only satisfy but delight their stakeholders. Understanding the expectations from various perspectives during the workshop further reinforces the need to execute the initiatives and routines that everyone would have defined for themselves during their personal stakeholder assessment. We have seen in all our assignments that the people who have participated in our doHow® Inspirational Persuasion Workshops naturally become more effective, after clearly understanding what is needed so that they can fulfil the expectations consistently.

Next week I will blog about establishing a common understanding of the current reality using our business chakra assessments. A common understanding of both the expectations and the current reality is necessary for developing strategies.

Happy Reading!

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