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Hi Lauren, Thank you so much for your video and the worksheet. I am actually using this information for a Strategic Management course I'm teaching at the University of Queensland. This is excellent information- really appreciate you sharing!😀
Hello Lauren, I love stakeholder analysis topic. I have come across many papers emphasizing this matrix, but what are the questions to be asked, especially from the quantitative perspective.
Great question - I’ve actually been thinking I should share another video about this analysis a bit further. I’ll share the link with you once it’s up :)
Hi there Miss Kay - are you saying you didn’t understand the explanation at school and this video helped or that you didn’t understand the explanation in this video?
Thanks for your question! When you say ‘classify competitors,’ are you looking for guidance on identifying types of competitors, like direct vs. indirect ones, or on organising them into categories based on specific characteristics? Let me know a bit more, and I’d be happy to help clarify!
Got you! Great question :) While direct and indirect competitors are common classifications, using a stakeholder matrix can add depth by mapping competitors based on their influence and interest relative to our goals. This approach helps prioritise competitors based on their potential impact, not just similarity in offerings. Hope this helps!
Yes so, if a competitor falls into the “low interest, high influence” quadrant of the stakeholder matrix, keeping them “satisfied” is generally a good strategy. This means monitoring their actions and ensuring they feel acknowledged without overcommitting resources. These competitors might not actively engage with your market segment but still have the power to affect your strategy indirectly, so it’s beneficial to stay aware of them and address their needs as necessary to maintain a stable environment. For instance, the example that comes to my mind is if you were opening a new fast food chain and you created a logo that was similar to McDonalds, they would be become unsatisfied and could make business difficult by launching a copyright infringement case. So keeping them satisfied would simply be avoiding copyright infringement.
The best video I have seen to explain stakeholder map. Thanks for sharing.
Cheers Daniel!
Looking for bestselling book ideas? Check out these 3 steps to finding profitable kindle niches here via my affiliate link: bit.ly/3AGD9R0 (note: If you decide to make a purchase via this link I'll earn a commission)
Hi Lauren, Thank you so much for your video and the worksheet. I am actually using this information for a Strategic Management course I'm teaching at the University of Queensland. This is excellent information- really appreciate you sharing!😀
Thanks Kelly! Appreciate your comment and I hope it proves useful :)
Really helpful! Thanks for making this exciting video 🤩
No problems Cát!
Great work! Thank you
Cheers Lan :)
Sending greeting from Iraq to you, really affirmative and amaZing.
Thank you Omer! Ramadan Mubarak! 🙏
Lauren, thank you for your video, it is a great tool for learning and application
Cheers Lloyd! You’re welcome :)
Hello Lauren, I love stakeholder analysis topic. I have come across many papers emphasizing this matrix, but what are the questions to be asked, especially from the quantitative perspective.
Great question - I’ve actually been thinking I should share another video about this analysis a bit further. I’ll share the link with you once it’s up :)
@@HolisticADHDCoach Thank you !
Amazing! Thank you Lauren
You’re welcome Talita!
Easy to understand!
Cheers Steve!
Thank you very much for this video. I'm at school in Germany and I didn't understand the explanation.
Hi there Miss Kay - are you saying you didn’t understand the explanation at school and this video helped or that you didn’t understand the explanation in this video?
I didn't understand it in German, the way one chooses what is high increase/influence
I use Doodly too! Nice job.
Thanks Peter!
fantastic thank you
Thanks Vaughn!
im confused abt competitors how can i classify them ?
Thanks for your question! When you say ‘classify competitors,’ are you looking for guidance on identifying types of competitors, like direct vs. indirect ones, or on organising them into categories based on specific characteristics? Let me know a bit more, and I’d be happy to help clarify!
@TheCheatSheetsau can we classify them according to this grid or engagement assessment matrix ? Or just direct and indirect ?
Got you! Great question :) While direct and indirect competitors are common classifications, using a stakeholder matrix can add depth by mapping competitors based on their influence and interest relative to our goals. This approach helps prioritise competitors based on their potential impact, not just similarity in offerings. Hope this helps!
@@HolisticADHDCoach yes it helps but still kinda confused abt for example wat if theyf low interest and high power ? Should i keep them satisfied ?
Yes so, if a competitor falls into the “low interest, high influence” quadrant of the stakeholder matrix, keeping them “satisfied” is generally a good strategy. This means monitoring their actions and ensuring they feel acknowledged without overcommitting resources. These competitors might not actively engage with your market segment but still have the power to affect your strategy indirectly, so it’s beneficial to stay aware of them and address their needs as necessary to maintain a stable environment. For instance, the example that comes to my mind is if you were opening a new fast food chain and you created a logo that was similar to McDonalds, they would be become unsatisfied and could make business difficult by launching a copyright infringement case. So keeping them satisfied would simply be avoiding copyright infringement.
Might need some project support soon Lauren.
Happy to help Ken ❤️
Excellent video. Thanks.
You’re welcome :)