“I know that our strategy is going to make significant changes to the way we work around here. And I know that there will be a lot of resistance. What can I do to ensure that our strategy actually becomes a reality?”

What is it?
A stakeholder is anyone who has a stake in the results of your change. In a business situation, stakeholders could include employees, management, unions, customers, suppliers, the board of directors, shareholders, community interest groups and government regulatory authorities.

Shareholder Identification and Planning is the process of determining who your stakeholders are, learning what their needs and perspectives are, and planning how to address them in your project design and implementation.

Gaining support for change is critical, even when you are the boss and have ultimate decision making authority.

When do you use it?
Before your potential change starts, and along each phase of the change project.

How do you use it?

• Identify those who will be affected (stakeholders).
• Determine the stakeholders’ issues. This can be done through interviews, focus groups or town hall meetings.
• Determine how best to address those issues. Incorporate appropriate actions into your overall project plan.
• Plan how to involve key stakeholders in the change effort in order to maximize acceptance and minimize resistance. For example, including stakeholder representatives on your project team, or planning for communication during key milestones in your project.