Business Strategy Assessment- Stakeholder Analysis & Mapping
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Stakeholder Analysis and Mapping
Length: 500 words and map
Consider the models of stakeholder theory promulgated either by Freeman, Mitchell et al or Donaldson and Preston.Using one of these frameworks outlined in either the text or readings, construct a stakeholder map for an organisation with which you are familiar. You should include both internal and external stakeholders and be as comprehensive as possible. Using the model of stakeholder typology associated with your chosen framework, categorise these stakeholders appropriately. For example, on page 42 of the text , stakeholders are identified as dormant, demanding, dominant, etc.
Try to identify specific stakeholders that are currently being neglected by the current approach to business, especially those in the more influential categories (such as dominant, definitive and dependent). Then develop ideas on how you might correct the situation and engage more appropriately with these stakeholders. In no more than 500 words, summarise your approach to mapping and develop some initial engagement strategies for those neglected but more powerful stakeholders identified in the course of the process.
You will need to display both the map itself and the 500 word summary in a simple report format.
Stakeholder mapping of HSBC
Given below is the stakeholder mapping of HSBC based on the model of (Donaldson & Preston, 1995)
Figure: Stakeholder mapping of HSBC based on the model by(Donaldson & Preston, 1995)
As shown above, the stakeholder of HSBC can be segregated into 5 categories namely(iirc.org, 2014):
- Enablers:They comprise of:
- International Governments and globalists
- HSBC executive board
- International banking affiliations and associations
- Private investors
- Media and analysts
- Producers: They comprise of:
- Mortgage advisors
- Shareholders (Who also act as enablers, to a large extent)
- Military Aviation authority targets, after HSBC’s purchase of Jetway rights for aviation across 81 countries.
- Limiters:They comprise of:
- Aggrieved customers
- Customers:They comprise of:
- Business customers
- Hedge Fund managers
- Private investors
- Communities: Comprising of the various communities in which HSBC is engaged, in the form of imparting education and environmental protection. Ex: HSBC Climate partnership, HSBC Water program, 5-year environmental protection plan with ‘Earthwatch Institute, WWF and WaterAid(iirc.org, 2014).
Stakeholder Typology of HSBC
The stakeholders of HSBC can be categorized, as shown below(Mitchell, Agle, & . Wood, 1997).
- Dormant stakeholder: The dormant stakeholders of HSBC are its community members, who have minimum interaction with the firm, and lack urgency and immediate attention. But, they also have enough power, as they have an influence in the brand value and reputation of the company.
- Demanding stakeholders:These stakeholders are in the form of aggrieved customers, whose claims are treated on an urgent basis.
- Dominant stakeholders: These are in the form of anti-globalists (who oppose liberalization in global trade practices), capitalistsand business customers, who hold a strong power, enough to influence decision making within the firm.
- Dangerous stakeholders: These stakeholders are in the form of competitors of HSBC in the banking and investment sector. They have both a strong power as well as urgency factor.
- Dependent stakeholder:These are in the form of employees working at the operational level. They high both legitimacy as well as urgency, but have a low power influence.
- Definitive stakeholders: These occur in the form of HSBC executive board, its shareholders, Governments, media and analysts which possess, power, influence as well as legitimacy.
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