Identifying and Retaining all the Stakeholders in a Business

An often overlooked aspect of a business is the stakeholders. Many organizations have a problem in identifying their real stakeholders. Many stakeholders are pretty obvious since they are visible. But many businesses have a problem in getting to understand who the real stakeholders are because there are the invisible ones who are difficult to identify.

Internal and external stakeholders make up a strong and potent force that has the ability to either make or break an organization. Often, the special benefits they provide are overlooked or ignored, leading to missed opportunities. Organizations stand to gain a lot from stakeholders through a stakeholder engagement process that helps to prevent problems. Proper planning needs to go into it, as it has to take the present situation and anticipate the future ones. The goal of this engagement process is to motivate other stakeholders to stay engaged too, which will be of immense use to the organization.

Identifying the real stakeholder is of utmost importance

Many a time, an organization could be short of its goal when it comes to recognizing the importance of the obvious and the abstruse stakeholder. It needs to understand if it omitted stakeholder from a key discussion or decision. It should also asses the loss caused to it by the stakeholder who causes it problems. These situations keep repeating often in corporate circles, leading to delays, bad feelings, or much more. The answer to this problem is to identify all the stakeholders and understand the role and importance each brings to the business. A wise business comes up with a plan to prevent a stakeholder from causing issues for the management.

Recognizing and retaining the right stakeholder involves more than just communication. Ideally, if the organization has to retain them, they have to do a lot, like:

  • Creating alliances with stakeholder leaders, which involves creating leaders where they don’t exist
  • Engaging with stakeholders by profiling their interests, opinions, values, risk tolerance, etc. and matching them with opportunities
  • Identifying what the organization may or may not negotiate with, and if it can be negotiated, the level and extent to which it can be done
  • Supporting and lauding and rewarding stakeholder efforts

These are some of the processes and actions an organization can take to derive the best out of its stakeholders.

Learn to understand the ways of identifying stakeholders and using them better

The ways of doing all this will be taught at a webinar that TrainHR, a leading provider of professional trainings for the human resources industry, will be organizing.

Jan Triplett, Ph.D., CEO of the internationally recognized Business Success Center, who is an entrepreneur, author, speaker and small business activist, will be the speaker at this webinar. She brings the experience of being a frequent keynote speaker on business growth models, funding and pricing strategies, alliance building, personnel management, and sales processes into this session.

To gain the knowledge of how to optimize the important resources of stakeholders and derive the best out of their experience and knowledge, please enroll for this webinar by visiting TrainHR

This webinar has been approved for 1 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).

Everyone who wants to cultivate stakeholders and build up a fruitful relationship with them and make the best use of it, such as owners of businesses, top management staff (C- Level), Department Heads, Marketing & Sales Directors with inside or outside Sales Teams, Operations Manager, Vendors to larger Businesses and Non-profit Presidents or CEO’s will gain from this session.

At this hour-long session, Jan will cover the following areas:

  • Identifying and profiling all the relevant stakeholders and how to keep that current as plans and situations change
  • Creating a plan and process to communicate and work with stakeholders and other influencers who are relevant to stakeholders
  • Creating an early warning system to identify problems before they happen or grow
  • Implementing the Plan – timeline, expected results, budget management
  • Getting “buy in” for the plan from the top to the bottom of the organization and the stakeholders
  • Tracking and Evaluating the Plan
  • Adjusting the Plan
  • Celebrating success with stakeholders to encourage future participation and cooperation.

Thinking and planning strategically is needed to become successful

Organization Chart Business Building Concept

 

Strategic planning can be understood as the means by which organizations conceptualize and visualize their long term plans and the way by which they plan to go about achieving them. To implement strategy, organizations need to implement strategic planning.

Strategic thinking is absolutely necessary and important for an organization. Unless the management thinks strategically, the organization cannot expect to see much success in the long run. An organization that has no strategic plan cannot gain the edge over the competition and succeed in the long run. To think strategically, management has to have a sharp ken for the opportunities, challenges and threats and should be able to anticipate the prospects for the organization in relation to its existing and future strengths and weaknesses.

A means to elevate the organization

Good strategic planning takes into account all these factors and makes decisions that help the organization take the growth path. Strategic planning, when done taking the right inputs and factors into consideration and with the right decision, can elevate the organization to higher levels and help it achieve its long term objectives and goals. To do this, managements should be farsighted and perceptive.

Given the importance of strategic planning, an organization needs to think of implementing strategies that create value, generate growth and result in profits. Strategic planning should be an outcome of strategic thinking, and these should keep pace with changes taking place in the organization and outside. Strategic thinkers in the organization should be equipped with dealing with the questions relating to strategic planning. They should also be aware of how to adapt and implement the tools that help in the development of strategy.

Learn the aspects of strategic thinking and planning

All the new approaches the organization might need to kick start the strategic plan and to move to a new level of high performance will be the topic of a webinar that TrainHR, a leading provider of professional trainings in the human resources area, will be imparting.

The speaker of this webinar is Chris DeVany, who is the founder and president of Pinnacle Performance Improvement Worldwide, a firm which focuses on management and organization development. He has published numerous articles in the fields of surviving mergers and acquisitions, surviving change, project management, management, sales, team-building, leadership, ethics, customer service, diversity and work-life balance. Pinnacle’s clients include over 500 other organizations in 22 countries.

To gain vital insights into how to adapt and implement strategic planning for your organization, please register for this webinar by visiting http://www.trainhr.com/control/w_product/~product_id=701710?wordpress-seo .  This webinar has been approved for 1.5 HR (General) recertification credit hours toward aPHR, PHR, PHRca, SPHR, GPHR, PHRi and SPHRi recertification through HR Certification Institute (HRCI).

Blending proven practices with current thinking

At this webinar, the speaker will blend new insights which have been proven by practice with ideas from a wide range of current strategic thinking. He will help managers expand their horizons and gain a wider perspective of management practice with the help of breakout sessions, practice exercises and case applications. He will help them gain direction into their dilemmas concerning strategic thinking and planning.

Among the major benefits participants of this webinar will gain is in identifying the benefits of focusing on strategy. They will learn the different ways in which vision can be used in the organization. Participants will be able to integrate strategy, objectives, metrics and performance and learn the new strategic patterns that are evolving in the business world and develop ideas on how to apply these into their organization.

They will understand when to use action plans to implement strategy and when a more relaxed system is required. They will also have clear vision about when it is time to rethink their strategy with which they can reinvent their organization. Chris will help them to gain a clear perspective on their organizational role in the development and implementation of successful strategies.

He will cover the following areas at this webinar:

  • How to structure the development of strategy for an organization
  • How to ask strategic questions
  • How to generate sufficient data and organize it into relevant information for use in developing strategy
  • How your organization and the business environment in which it exists interact through strategy formation and implementation
  • How resources reinforce strategic direction and influence results
  • Positive means of engaging the organization in strategy formation and implementation.

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