Stakeholder analysis is a critical part of any management system particularly
with reference to any of the international standards for quality,
safety, environment. In this video we're going to talk you quickly through the
difference between a stakeholder and a shareholder for example, we're going to
talk to you about how stakeholders fit into this process in risk-based thinking
with regards to management system and how you can do a stakeholder analysis
for your organisation you don't need to worry that we're talking ISO standards
this is relevant for any business and how you can understand your risks, risk
based thinking and start to develop your business plan. So stay tuned as we work
through stakeholders, all the different types of stakeholders
including shareholders, we'll talk about how that links into a SWOT analysis and
a risk analysis and then a management plan, stay tuned.
Thanks for joining us here at Best Practice TV we've had a bunch of
questions bunch of comments and we've also done some research on what videos
people are craving in our YouTube channel so particularly today we want to
talk about stakeholders I want to do a bit of a stakeholder assessment I want
to take you through the process just generically quickly now and how that
links to your business plan in terms of this process or your operational plan
that might be developed in accordance with your quality system your safety
system the environmental management system but ultimately about the
operational plan to deliver your business objectives
okay so stakeholders obviously critical part of any organisation they could be
staff they could be shareholders they could be suppliers, contractors they
could be manufacturers it could be government agencies they could be your
building manager your landlord, any of those sorts of things you know they
could be the families of your staff they're all stakeholders and I'm going
to get into detail in those in a minute, but as we do that analysis and I'm going
to do that here on the whiteboard I'll get rid of this one go through that
process they do once we start to look at them need to drop into or be considered
as part of our SWOT analysis that's a whole other video lots of stuff on
YouTube about SWOT analysis great tool really simple something to think about
but definitely something to use once we start to understand our stakeholders we
drop our SWOT analysis when we start talking about developing management
systems into our risk analysis and our risk analysis might you know we might
spit out some sort of register particularly if you're watching this
video because you're interested in getting ISO certification from someone
like us so we're an ISO 9001 registrar or certification body and we got a
whole bunch of people that run around doing assessments Best Practice
assessments so we've got our register there that we would spit out I'm not
going to go into that in this video that's in another video you're going to
go and have a look we'll put the link to it in our in the description below this
one and then obviously once we've got that identified we have our plan which
is all of the controls the who what when where how that I talked lots about on
these videos and that's our plan our business plan if you're right like or
our operational plan. Okay look at that magic it's gone, okay let's talk about
stakeholders now specifically we want to start
our organisation and that's us that's your organisation that's us our
organisation so we're looking at our organisation and we're starting to say
well who are the people the parties they've got an interest, now it's a
strategic interest it's a financial interest you know their suppliers,
contracts, bank contractors, banks all that sort of stuff we can start to just
brainstorm them out, so we can say staff, we can say suppliers, we can say your
bank or your financial institution, and say government, we can say shareholders
now these are stakeholders and one of the questions we're often asked is
what's the difference between a stakeholder and a shareholder?
well the shareholder is a stakeholder but these are all other stakeholders you
know they've got an interest are in this process with our staff, suppliers, bank,
government agencies, what about customers, what about your landlord, you know the
person that you've rent the property from for your for your company or your
organisation, what about end-users, they're just some
really basic examples and you can go into a lot of depth here. Key tip here,
critical point, this is a critical point that I want you to understand as you go
through this process we must absolutely must be specific. Specifically your
organisation and specifically the name, the name and phone number of the person
that you're thinking about when you're talking about a government agency. There
might be four or five different government agencies in each jurisdiction
where you operate, it's important to be thinking if you can if you can
specifically, most specifically and accurately as possible about that person
so you can unpack what their requirements are. When we talk about
common agencies they've often have got licensed requirements, they got laws,
and when we start to talk about this, we can start to identify the specific law,
the specific license, the specific conditions, requirements, that we must
operate within, the same over here you know 1000 staff and they're in four
categories one, two, three, four, they might all have different
requirements it seems important to categorise them accordingly,
suppliers, different sorts of suppliers, banks you know you might have a number
of different financial institutions you might use PayPal for example you might
use your bank, 1 bank, bank A, bank B you know you could talk about your end user
space, you've got different sorts of end users for your different products and
you could divide these by product line. Customers different sorts of customers
remembering you've got customers and end users and they can be different
depending on your organisation, up here so your product line one, product line two,
product line three, different properties, landlords, so important and then
obviously shareholders and there could be different types of shareholders they
could be executive shareholders non-executive shareholders you could
have the board, what about management, you know the
management team, let's put them over here actually let's move these guys the
management team let's put them over here any staff. So at a really, really high
level, it's a good thorough brainstorming session, I'd recommend a big whiteboard
like this or a huge piece of paper and a pen and sketch it out and then you can
make it more specific. We do see lots of our clients and lots of organisations we
work with take all this and drop it down into a spreadsheet and what we start to
identify obviously is their name, you know their contact, and then their
requirements, anything that's a specific thing that you guys need to do to keep
them happy, to keep them all on an even keel or meet their requirements so you
can continue to operate, and that's obviously the whole objective of
an organisation by the true sense of an organisation, it's the organisation and
coordination of all of these different stakeholder requirements to help you to
go forward. So this information is important to keep at hand, this type of
diagram when you move into the next step, and then remembering we had our flow
chart that we talked about in the beginning of the video, which was our
this is our analysis up here, stakeholders, then we go into our SWOT
and we go into our risk analysis and then we go into our plan,
and that's how that all fits together. As we're developing our SWOT any strengths
weaknesses opportunities and threats, suppliers SWOT staff, SWOT staff, SWOT
management team, SWOT endusers SWOT customer, SWOT landlords, SWOT
stakeholders, sorry shareholders, SWOT government agencies, SWOT bank, that's how
it works. Then we know the risks, we can start to look at the risks, what they
look like, then we can start to work out how we're going to address that and that
starts to become your integrated risk management plan, if you want to risk
or your operational plan or your quality, safety, environment system. They might
have staff safety requirements, customers quality requirements, government agency
environment requirements, it's an integrated risk approach that's how all
that drops down into stakeholder analysis, requirements, you know and this
could be stakeholder it could be like a stakeholder register, if you like don't
make your life too complicated keep it really simple it's about understanding
where to go to find out what their requirements are some of it could be
anecdotal, so your management team might have some anecdotal you know
requirements of end users based on their industry experience and that's okay,
that's good, government agencies might be very
specific law and on this register you'd put the link to the www website where
the requirements exist. So that's been very quick brainstorming exercise
looking at stakeholders, stakeholder analysis, shows you the difference
between stakeholders and shareholders because that's pretty common question
here at Best Practice. Talks about all the different stakeholders now there's a
lot more stakeholders so if there are important stakeholders in your
organisation that we missed comment below so just type a quick comment let
us know in the comments below this video other important stakeholders in your
organisation just give us a generic comment people like to comment and have
conversations in the comments below this video so go right ahead post a comment
let us know another important stakeholder that I can
add to this table and I'll shoot another video down the track for you talking
about the difference between stakeholders and how it fits into your
management system. So thanks for joining us here at Best Practice TV we
got a great company LinkedIn page that's worth jumping across on to LinkedIn and
hitting us with a follow, you can also look for me specifically on LinkedIn if
you'd like to connect with me send me connection requests we'll just click the
follow button you'll get all the posts and updates that we do on LinkedIn very
unique while you're here watching these videos it's worth opening another tab on
your browser and clicking across to our website and most specifically our
Training Academy if you want more in-depth analysis of how this relates to
an ISO standard, we've got a couple of great courses Quality Assurance ISO 9001
essentials, we have an OH&S essentials course, we've got an environment
essentials course, lots happening on Instagram where we have a little bit of
fun, it's all give very gets corporate and serious here at Best Practice so we
have a bit of fun on Instagram, lots of Vlog content that comes out
every week on YouTube, you get to see the behind the scenes all of bloopers from
shooting this particular video will be there somewhere in the YouTube channel
so look out for us on the internet you don't see me here on YouTube you'll
definitely see me next time right over on LinkedIn right here a Best Practice
TV bye for now.