Question

Prioritise your stakeholder(s) using the power/interest grid:

How important are the stakeholder's interests to the success of the change?

What role must the stakeholder play for the project to be successful and what is the likelihood that they will play this role?

What is the likelihood and impact of the stakeholder's negative response to the change?

Answer 1

As we know there are four quadrants of the power interest grid:

1. High power, low interest: Keep satisfied (Meet their needs)

2. High Power, high interest: Manage closely (Key players)

3. Low Power, low interest: Monitor (least interest)

4. Low Power, high interest: Keep informed (show consideration)

For example, lets say you run a handbag manufacturing company. Lets Your stakeholders include your endcustomerh, your production teamteam make the bags, your marketing and sales team who are responsible for selling the bags and generating continuous business

Your end customer will fall in the second quadrant of high power/high interest-key players, your production team will be in first quadrant, high power low interest and your sales and marketing team will be in low power and low interest quadrant

Lets say you wish to introduce a new line of evil eye theme bags

1. Ofcourse the interest of your end customers will be of prime importance for success of change If your clients' interest are not taken care of, your product line will fail.

Your production team will have the lowest interest but your sales and marketing team will have the highest interest. This is because their incentives and business development target will be dependent on the response of the product line

2. The internal stakeholders must be supportive of the change and be enthusiastic to implement the same for the success of the project. The internal stakeholders such as sales and marketing team shall support the change if they are confident of making higher incentives, basically more money and repeat sales

3. Say if the end client doesn't like your new product line,this will have an adverse impact on your profits and in severe situation could also affect the organisation perception and job security amongst existing employees.