A stakeholder analysis is a process used to identify and assess the importance of key individuals, groups and other entities that have an interest in a company or organization. Stakeholders include, for example, customers, employees, but also suppliers as well as investors and owners. The analysis is particularly helpful in decision-making within a company, ensuring that all stakeholders are considered in the planning and implementation of projects and initiatives by identifying potential areas of conflict and opportunities for collaboration and cooperation.
Particularly in the case of a sustainability strategy, the stakeholder analysis is an elementary instrument for ensuring successful implementation. To ensure this, the company-specific stakeholders in the area of sustainability must first be identified. Once the relevant stakeholders have been identified and their interests in the area of ESG have been analyzed, the topics are transferred into a matrix. In this way, common interests and potential conflicts can be identified. In addition, a matrix can be used to prioritize the stakeholders and their interests according to their relevance and importance for the company and the associated strategic positioning, thus determining the key stakeholders for the development of a successful ESG strategy. In the final step, dialog can then be entered into with the prioritized stakeholders. This is particularly important in the area of ESG, as it allows misunderstandings and ambiguities to be avoided and the interests of the relevant stakeholders to be addressed in greater detail.