Every organization has various sets of stake holders that are both important and least important for the organization depending on the situation. External and internal stakeholders are present and it is the responsibility of the organization to fulfil the objectives of the stakeholders because the organization cannot work alone in the market. During the process of change it is important for the organization to map the stake holders because if they are ignored during the process of change than the organization can face trouble. The impact of the stake holders are viewed on four elements of power, impact, interest and influence of the stakeholder on the organization. Power is related to the group of stake holders that have the decision making power in the organization (Puyvelde, et al. 2012). These stakeholders can be the top management of the organization and investors of the organization that have maximum share in the organization. Influential stakeholders are the ones that have an active involvement with the stake that is linked with the process of change. This influence can be positive and negative depending on the stakeholder and situation. The group of stake holders that are influence are employees and leaders of the organization that are associated with the change process and because of them the employees can be convinced for the process of change. The last groups of stakeholders that have the power of impact have the ability to change the execution of the project or impact on the process of change (Thomas & Hardy, 2011).This stakeholder grid is managed with four other elements like:
- High power (more interested people): these stakeholders must be fully engaged in the process of change because if their expectations are not fulfilled than the process of change can be impacted.
- High power(less interested people): these stakeholders like external stakeholders are not fully involved in the process of change depending of the level of change and can this change impact on the external stake holders. Example: if the company has planned to go for re engineering and for this reason they need to view the internal stakeholders and external stakeholders have the least interest in the process of change.
- Low power (Interested people): these stake holders need to be involved and communicated about the process of change because this group if important in the process and if they are ignored they can create issues for the future. They are interested with the details of the project and how can they invest in the process of change.
- Low power (less interested people): these stakeholders need to be monitored but the organization should not waste time on this group. External stakeholders like the society or the unions that are working in the society have no concern about the internal changes conducted in the organization about the new technology or employees.