Question

A new grocery store is being erected that will demolish a neighborhood basketball court. List who you think would be the internal stakeholders and the external stakeholders and state why (analyze stakeholders). Discuss how you would manage and monitor stakeholder engagement for both groups. What would you need to consider in your project communications plan?

Answer 1

Stakeholder - A stakeholder is an individual or group who has interest in the organisation directly or indirectly. A stakeholder can be internal or external. Internal stakeholder is the one who is involved in economic activity of the organisation. It includes owner and employees. External stakeholder is the one who is not directly involved in the function of organisation. They are public, communities and media.

While erecting a new grocery store, internal stakeholder are those who are directly involved with the business. It consists of employees who will provide supplies to customers, owners who will invest in the business and suppliers who will provide supplies to the store. External stakeholders will be customers and local community. They do not make investment in business but influence the decisions that internal stakeholder make.

Managing and monitoring stakeholder engagement - Stakeholder management is actually stakeholder relationship management as relationships with them are managed not stakeholder groups.

1. Managers should acknowledge each stakeholder and should take their interests in decision making.

2. Managers should listen and communicate effectively with the stakeholders and understand their risks.

3. Managers should adopt processes that are sensitive to the concerns of each stakeholder group.

4. Managers should recognise the efforts and should provide them a fair value of benefits and burden.

A project communication plan is a message to the affecting stakeholders. This plan should include:

• Plan's purpose and approach
• Communication goals and targets
• Roles in communication
• Communication methods
• High level project communication messages