Decision making process - part 2

In this lesson

1. 0:00 Qualitative analysis in decision making
2. 0:36 Stakeholder analysis: power and influence
3. 1:01 Employees as key stakeholders
4. 1:49 Customer reactions and satisfaction
5. 2:57 Shareholder expectations and risk
6. 4:01 Suppliers, regulators, and government impact

About this lesson

You'll discover how to identify key stakeholders—employees, customers, shareholders, suppliers, and regulators—and assess their power and influence on your business decisions. This skill is essential for papers like SBL and E3, where you need to evaluate decisions beyond the numbers and consider the human and organisational factors that determine success. By mastering stakeholder mapping, you'll be able to anticipate potential resistance or support for strategic decisions and build more robust recommendations. The video walks you through the critical stakeholder groups you'll encounter in real business scenarios. For each stakeholder type, you'll learn practical examples of how they might react positively or negatively to decisions—from employees fearing job losses through automation, to customers adapting to digital-only banking, to shareholders weighing risk against potential returns. You'll also explore how government and regulators can either support your initiatives, such as environmental improvements, or create obstacles if your decision conflicts with regulatory requirements. Understanding these dynamics helps you anticipate challenges before they arise. The core principle is straightforward: before finalising any strategic decision, assess whether it aligns with your corporate objectives and whether your key stakeholders will support it. By considering power and influence, you can prioritise which stakeholder concerns matter most and develop strategies to keep them onside. This qualitative perspective complements the financial analysis you've already learned, ensuring your recommendations are both commercially sound and practically achievable.

Duration: 5m