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Stakeholder Analysis Part A
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Healthcare Innovation and Entrepreneurship
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Sizing Up the Market
Who are your stakeholders? Can you identify them? Are all stakeholders equally important? How do you analyze a market? What methods and sources do you use?
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Marilyn M. Lombardi, Ph.D.Associate Clinical Professor
School of Nursing
Bob Barnes, PhDInstructor
Biomedical Engineering
Hello ladies and gentlemen, this is Bob Barnes.
On behalf of Marilyn Lombardi, welcome to Stakeholder Analysis.
And we're going to be doing this in 2 parts.
And as I had shared with you in past, I'm still been a little bit of a cold,
scratchy throat. So from time to time if I take a drink of
my, my heat tea here I hope you won't mind, and hopefully it won't mess up the
audio to. Let's proceed.
this is, these are 3 portions that we will be talking about under the heading
sizing up the market during this fourth week of work.
the first part of this is stakeholder analysis.
Which we'll do in part A and part B. And, this might get a little tedious in
part B. Because I'll be going through some detail
and giving you some examples from, from a real, needs, needs specification that we
did last, this past summer. And we do these all the time so don't,
don't, you shouldn't think this is just once.
We do we probably, probably 100 of these in our classes each year and with, with
my clients during the year. So we'll cover stakehold, stakeholder
analysis today. we're going to be moving to market
analysis next, in the introduction to market.
Please recognize I won't be covering what I believe to be the things that are key
to you being able to use the needs specification.
Not trying to teach you comprehensive stakeholder marketing.
This isn't in sales. We start with need specifications, and I
think in the past that we have alluded to this, and I've known in the past that we
have talked about a need statement as being part of the preliminary need
specification which includes the need statement.
And we have talked about doing this in rough cut form.
And after you've decided which ones would be rough cut need, that you probably
aren't going to pursue any further. Well, you need to take what's remaining
and bring them to a, to a preliminary need specification.
This will include a background document, which we talked a little bit about in the
past which essentially says let me tell you why this, why this is important.
Why we're investigating in the background with a particular need to observe.
We're going to also talk about and that predominately need specification.
I hope you go share with people, or share it with those that you're working.
Why it's significant to, to look into this need when there's a significant
benefit and opportunity. Hopefully you talked about current
solutions or other ways of satisfying the need that you've identified.
And then finally identified who the stakeholders are and some of their key
issues. You probably did this at a very high
level and I think what we talked about. in the past is the stakeholder assessment
for the preliminary needs specification. Is a very cursory one only looking at, a,
a key stakeholder or two and identifying why it is important.
What their musts are in terms of addressing this need.
And what they want to have happen. And what's desired to have happen.
And is a consequence of the potential solution.
Now those preliminary need specifications have been filtered, and we talked about
that in the past in terms of how to prioritize those needs.
And those prioritized needs can then be developed into a full needs
specification, which can as addition the need statement 10 components.
And those 10 components are all the items you see here, and I'm not going to read
them, read through them. Those for you, and I think you can read
much quicker than I can. But today, we're going to be focusing on
needs, need assess, pardon me, stakeholder assessment.
Now you'll see that the preliminary need specification and the need specification,
those documents of those activities overlap each other.
And one of things you find, is as you dig in to the need specification, you're
going to discover some things that you, didn't know, and you'll have to go back
and improve or modify elements 1 through 4, in what will become the overall need
specification, which essentially had been developed to probably the 60 to 80% of
completion, during the preliminary need specification.
So, this iterative approach developing needs specification is something that you
have to remember, that as you're going through and developing the specification
you're actually learning, about what that need is and how to address that need.
Which may mean that you have to go back and revisit some of the things you've
already done, revise them. Let's talk about the stakeholder
assessment portion to begin with. Definition of a stakeholder is anyone,
and you'll notice that I, I've emphasized the word anyone here, who can affect or
is affected by the problem[COUGH] associated with need, and/or its
resolution. If you think about this seriously, the
number of stakeholders that could have a stake, or could be affected by, or could
affect the solution and/or the need, and the delivery of that solution.
Quite a large number of people. So as we go through the assessment, we
not only have to identify them, we have to identify who are the, the key
stakeholders in the process. This leads us to a very important
question. It's something that deserves some
considerable amount of thought here. Must an innovation satisfy all
stakeholders? The secondary question here is if it
must, can't I or can we, whoever is working with addressing this need,
actually do we have all the resources, all the[INAUDIBLE] .
Are we capable of addressing every possibility?
I think you'll find the answer to that's no, but the real problem then becomes
where do we "draw the line" between those stakeholders or focus on those
stakeholders that to some extent. we're just going to ignore as we develop
our need specification. And eventually develop a solution to the
need product and or service. You take the market or take into, the
environment in which the need exists so we can address it.
Let's take a look at some examples in stakeholders.
Here's what I, I usually use a checklist, so that when we start looking at
stakeholders, we don't miss any. Now, depending upon your particular
specialty and the area that you work in, you may want to add or delete names from.
The beauty of filming a checklist is that if you're truly interested in innovation
entrepreneurship, this is not the last need that you are going to address.
[COUGH] This is not the last time that you're going to be involved with working
with needs in the healthcare environment. So you'll find that the result, good
stakeholder assessment, takes a great deal of time and effort.
So, if you have a checklist, you keep adding to the checklist.
It's far easier to admit names, admit positions.
From the stakeholders, with going to use to add new.
We're going to do it from ground zero each time.
Are all stakeholders equal? Well, we believe that there are 2 ways at
looking at stakeholders, they have to do with power, it has to do with concern.
When we take a look at power. Power is, it has to do with what the
stakeholder can bring to the table to help us with developing our solution, or
[COUGH] what the stakeholder can do or not do in terms of helping us to actually
bring that solution to the environment which they need to be addressed.
Bring it to market. The ability to contribute what's called
key resources. Please remember these key resources may
be intellectual property, may be simple intelligence to the experience.
So, we talk about it stakeholder[UNKNOWN] is not necessarily someone who has lots
of money lots of funds. For lots of tangible resources.
In many cases it can be, it can be indeed simply their intellectual understanding,
their creativeness, creativeness, and their[INAUDIBLE].
It's also the ability to decide to use or not use the products and their solutions
associated. So we may indeed develop a solution but
for one reason or another, and by the way, don't forget one reason could be
purely cultural. Culturally inappropriate answer,
culturally inappropriate to address certain issues and certain things.
So, we usually think about this as being. In terms or legal, regullatory, or
profession specific. In many cases, it could be simply, simply
culture. For example, in some cultures and some
religions, blood transfusions are not approved of.
It's just simply not done. Let's take a look at concern.
And concern is a bit more difficult. Make sure when we talk about concern that
you're not addressing questions of good and bad.
We're simply saying that people can[UNKNOWN] not a concern because it has
a negative impact. Other people can have an equally intense
concern because it will have a positive impact.
So we're simply asking level of concern. It may be along a broad collection of
items. It could be technical.
It could personal. It could be financial.
It could be political. It could be cultural.
It could be legal. It could be ethical.
Well, you get the idea. So, the way we go about this is by
looking at a stakeholder assessment that forces our stake, forces us to put our
stakeholders into 1 of 4 categories. And if you think about this for a second.
The stakeholders we are most concerned about, is entrepreneurs are those in
quadrant one. They have high power, and they have high
concern. We don't address those stakeholders.
We, in many cases, will simply will not have an opportunity to develop our, the
solution to our need or to develop into[INAUDIBLE] a need to the market.
While we would like to address all stakeholders[INAUDIBLE] , this begins as
the first inkling of where we have to focus and how we can begin to prioritize
our statement. This concludes part a.
We've now talked about stakeholders. We talked about what their, what their
power is, what their concern is. And we give first heads up walk into how
we may perceive, categorizing those stakeholders.
And the ones that we want to help, we want to have, have focus on.
Those are perhaps what we are, we're personally concerned about.
They are not necessarily concerned the need and/or the solution we might pursue.
Thank you, I look forward to talking with you shortly when we begin part 3.
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