Stakeholder Mapping and Analysis: A Westpac Case Study

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STAKEHOLDER MAPPING AND ANALYSIS
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Table of Contents
Stakeholders mapping......................................................................................................................3
Stakeholders analysis on the basis of Mitchell stakeholder’s theory..............................................4
Proposed idea...................................................................................................................................5
References........................................................................................................................................6
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Stakeholders mapping
(Figure 1: Stakeholder mapping of Westpac)
(Source: By author)
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Stakeholders analysis on the basis of Mitchell stakeholder’s theory
Stakeholders are the most important part of the organization. They are associated with all the
activities of the organization and hold an important value in the firm. With the support of
stakeholders the managers can perform all the actions in the most effective and proper manner.
There are various theories that can help the managers of Westpac in categorizing their
stakeholders on the basis of the authority they hold in the organization Westpac group. (2015).
With regards to the theory of Mitchell and all his companions, stakeholders can be individuals or
group of individual that affects the functioning of the organization. Therefore it is very important
to identify the stakeholders and fulfil their aspirations for enhancing the growth prospects of the
organization. As per their theory there are three attributes that affects the stakeholders which are
Power, legitimacy and urgency. With regards to the theory and the study of the organization
the stakeholders are identified in the below stated manner:
 Dormant stakeholders: These stakeholders do not have a involvement in the activities
of the organization but impacts the function of the firm in the most powerful manner. The
dormant stakeholders of Westpac are the customers and the government Westpac
group. (2015).
 Discretionary stakeholders: These stakeholders have a role in the legitimacy of the
company. They are involved in the activities only when they are really important in the
firm. The non-government organization can be the Discretionary stakeholders of
respective firm (Stakeholdersmap.com, 2019).
 Demanding stakeholders: These stakeholders do not posses power and legitimacy in the
company. It is very important for the managers to communicate with these stakeholders.
The investors and suppliers are the demanding stakeholders of respective firm.
 Dangerous stakeholders: These types of stakeholders are dangerous for the functioning
of the organization as their behavior can cause violence in the organization. The
employees of the firm are dangerous stakeholders (Stakeholdersmap.com, 2019).
 Dependent stakeholders: These stakeholders do not have much power in the functioning
of the organization. They try to get dependent on other stakeholders for the major
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activities of the organization. Community parties are the dependent shareholders of the
firm Westpac group. (2015).
 Definite stakeholders: They are very important for the existence of the organization as
they have all the important attributes such as power, legitimacy and urgency. It is very
important for the managers to communicate effectively with these stakeholders
(Stakeholdersmap.com, 2019).
The above analysis helps in indentifying the stakeholders on the basis of their power, legitimacy
and urgency in the activities of the organization. With the help of this analysis the managers of
the stakeholders will be able to manage the concerns of the stakeholders as per their power in the
organization (Stakeholdersmap.com, 2019).
Proposed idea
With the help of above analysis it can be said that the managers of respective firm must try to
fulfill the requirements of the customers, employees, investors and suppliers of the organization
as these parties can impact the functions of the firm in the most powerful manner.
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References
 Stakeholdersmap.com (2019). Stakeholder Analysis, Project Management, templates and
advice. Retrieved from
https://www.stakeholdermap.com/stakeholder-analysis/stakeholder-
salience.html#discretionary-stakeholders [Accessed on: 5th August 2019]
 Westpac group. (2015). Stakeholder Engagement. Retrieved from
https://www.westpac.com.au/content/dam/public/wbc/documents/pdf/aw/sustainability/
Stakeholder_Engagement_Framework.pdf [Accessed on: 5th August 2019]
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