Leaders increasingly realise that success or failure, or achieving business objectives, depends on, and is also defined by, maximising support from (or at least minimising opposition!), or winning the hearts & minds of, a potentially long and varied list of key stakeholders.
Organisations often articulate their approach to this challenge as…
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A “stakeholder” can be defined as “someone that is both affected by and can affect what you are trying to achieve.” Others might say “parties with a legitimate interest in your initiative”. They are also referred to as “allies”, “constituencies” and “decision-makers”.
Stakeholders can be characterized by their level of engagement or buy in, their level of influence, and their level of power.
Stakeholders can be prefixed in a variety of ways:
Prendo’s customers face many challenging situations when engaging stakeholders:
At Prendo, we believe that the complex skills and deep understanding that are needed for engaging stakeholders are best developed with advanced simulations that provide accelerated experiential learning and the opportunity to explore the underlying cause and effect models.Talk to us to understand if our simulations can address your specific challenges
To address the challenge of engaging stakeholders, leaders need a combination of skills (know-how) and understanding (know-that), in the same way that the driving test combines the practical and the theory:
as part of an overall approach to or process or strategy or plan for engaging stakeholders