Stakeholder Analysis Process Steps

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Stakeholder analysis is a process that helps in understanding the needs and wants of the stakeholders. It is a process that helps in developing the right strategy for an organization. The stakeholders can be divided into two categories - internal and external stakeholders. The internal stakeholders are those who have a direct impact on the development of an organization while the external stakeholders are those who may have no direct impact but they have an indirect impact on what happens with the organization. There are four steps to complete when performing a stakeholder analysis: Identify, Create, Analyze, and Implement. The first step is to identify all key stakeholders of your organization by asking questions such as “Who will use this product?” or “Who will benefit from this product?”
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