Know who You're Playing With
Just like a chess game, stakeholder relationships require knowledge of the primary players. It’s not enough to know stakeholders are important. General Managers need to understand who they are, what they do, and why their influence matters. This understanding gives you the advantage to make the right moves that anticipate and respond to their needs. A seasoned GM knows that 'Knowledge is Power' and also, a laughing Bishop is better than a crying Queen. So let's keep the Queen - your stakeholders, happy!
The Rules of the Game
Every chess game has rules, so too does stakeholder management. Best practice principles exist to guide managers in effectively managing stakeholder relationships. The key principles include: transparent and clear communication, mutual respect and understanding, and proactive engagement. Ignoring these principles is like forfeiting your Queen at the start of the game. Checkmate! Better luck next time, mate.
Making the Right Moves
Stakeholder management isn’t a mere game of luck. It involves strategic moves made at the right time. From initiating early communications to continual engagement, the steps you take in your stakeholder relations will determine your overall success. Remember, forgetting to move your rook might cost you the game!
Mind the Endgame
In the pressure of managing immediate stakeholder concerns, don't lose sight of the big picture - the endgame. Clarify your strategic goals and align stakeholder engagement strategies with these goals. Just like the great chess player Mikhail Tal said, 'You must take your opponent into a deep dark forest... and there you play.' So, embrace the complexity and play with confidence, knowing you're guided by your strategic goals.
References:- Freeman, R. E. (2010). Strategic Management: A Stakeholder Approach. Cambridge University Press.
