Meaning ● Stakeholder prioritization strategy, within the SMB arena, directly informs resource allocation during periods of growth and system implementation. Prioritizing stakeholders allows an SMB to effectively manage expectations while streamlining operational advancements. ● Without it, SMBs risk misallocation of resources, leading to project delays or stakeholder dissatisfaction. Understanding which stakeholders hold the most influence or are most impacted guides strategic decisions regarding automation and process improvements. ● For example, in an SMB automating its accounting system, prioritizing the finance department’s needs ensures a smoother transition and reduces resistance to change. It balances the concerns of various parties against the company’s automation objectives. ● SMB implementation projects frequently demand clear understanding of each group’s priorities, to ensure that implementation efforts contribute most efficiently to the business. Stakeholder prioritization strategy should take into account impact, influence, urgency, and proximity in implementation projects.
