* What is a stakeholder? (many possibilities, e.g., stockholders, various employee groupings, unions, suppliers, customers, creditors, competitors, government entities, community groups, spcial-interest organizations...)

* We need to be selective and consider MAJOR stakeholders, i.e., those with both high interest and substantial power

* Typical stakeholder analysis:

1. Identify topic for analysis (e.g., a strategy change, another type of decision)
2. Identify major stakeholders for this topic
3. Determine their degree of support or opposition to the action or change
4. Assess the balance of support
5. If not sufficient, work on changing to a more favorable balance of support
• Decrease larger opposing forces (generally the best place to start)
• Increase supporting forces

* How to decrease opposing forces? (some possibilities)

• Find out stakeholders' reasons for opposition, plus what is important to them
• Try to convince them of the advantages of the change under consideration, framed in ways that address important concerns for the person(s) in opposition
• Offer compensating benefits ("horse-trading")
• Modify your plan to accommodate some of the objections and interests
• Involve third-parties who have credibility, influence, and/or power over objecting stakeholders
• (Occasionally) try to intimidate them or get them moved elsewhere
• Involve key stakeholders earlier in the decision-making and planning process (this has the potential disadvantages of taking more time and giving up some control - but is one of the most effective ways to prevent/reduce opposition later)