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Not all stakeholders are equally important to a business. Some have significant power to affect the organisation; others have only a passing interest. Stakeholder mapping is a strategic tool that helps managers identify which stakeholders matter most and decide how to manage each relationship. The most widely used stakeholder mapping tool at A-Level is Mendelow's Power/Interest Matrix.
Businesses face competing demands from numerous stakeholder groups. Managers cannot give equal attention to every stakeholder — resources and time are limited. Stakeholder mapping helps by:
Key Definition: Mendelow's Matrix classifies stakeholders according to two dimensions: (1) their power to influence the business, and (2) their level of interest in the business's activities.
The matrix creates four quadrants, each suggesting a different management strategy:
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