Question

In the ______ step of the stakeholder impact analysis the firm identifies their stakeholders' interests and claims according to the power, legitimacy, and urgency framework.

Answer 1

Companies identify the stakeholders who presently have or may in the future have a meaningful impact on the company in the first step of a stakeholder impact analysis.

The application of analytical tools and procedures to study how corporate actions may affect stakeholders is known as a stakeholder impact analysis or stakeholder analysis. Stakeholder impact analysis measures and analyzes the impact of business choices on the business's stakeholders using analytical tools and techniques. It is a crucial duty for business management. Making decisions pertaining to production, distribution, and final sales is done using it to develop business strategy. 

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