Stakeholder analysis for multi‐sector innovations

Abstract

Business‐to‐business technology development firms face a unique set of challenges when participating in the opportunities made possible by emerging multi‐sector innovations. The greatest challenge involves the firm’s efforts to influence and shape the market in its favor. This requires strategies for dealing with numerous stakeholders – many with which the firm has had little experience. Because both the risks and pay‐offs are great, the firm needs an analytical and systematic process for stakeholder analysis to provide the basis for stakeholder management strategies. The case of one significant multi‐sector innovation – wireless technologies for integrated traffic management and emergency response – provides an illustrative context for demonstrating a five‐step process for stakeholder analysis.

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