What is Stakeholder Analysis? 

Stakeholder Analysis identifies the ways in which stakeholders may influence the organization or may be influenced by its activities, as well as their attitude towards the organization and its targets.

What is the Stakeholder Value Perspective? 

According to the Stakeholder Value Perspective, Proposed by  Edward Freeman (1984), the very purpose of the firm is to serve as a vehicle for coordinating stakeholder interests. In this view, Stakeholder Analysis is an end in itself. 

The role of management is to formulate and implement strategies and to make decisions that satisfy all or most of the stakeholders, or to ensure at least that no powerful and legitimate stakeholders are left too unhappy.

Who are Stakeholders of a Business Organization?

Here is a comprehensive list of typical stakeholders that might fall in these two categories:

• Owners and stockholders, investors
• Banks and creditors
• Partners and suppliers
• Buyers, customers and prospects
• Management
• Employees, works councils and labor unions
• Competitors
• Government (local, state, national, international) and regulators
• Professional associations, Industry trade groups
• Media
• Non-governmental organizations
• Public, social, political, environmental, religious interest groups, communities

What are the Categories of Stakeholder?

There are Internal Stakeholders (such as employees) and External Stakeholders (such as government).

We can also distinguish between Primary Stakeholders (such as stockholders) and Secondary Stakeholders (such as government). Where the line is drawn precisely, is a source of much debate.

Steps in Stakeholder Analysis?

1. Identify stakeholders
2. Understand stakeholder needs and interests. Classify them into meaningful groups. 
3. Prioritize, balance, reconcile or synthesize the stakeholders
4. Integrate stakeholder needs into the strategies of the organization and into its actions