It is argued that before you establish a good business strategy, you have to consider different stakeholders. Hence as a business strategist conducting a stakeholder Mapping is vital to establish a good business Strategy.
Let's discuss the different stakeholder Mapping techniques that we can use practically on Walmart identifying different stakeholders
Peter Drucker looked at a company’s objectives and whether they matched the business in which the company was engaged, what their business should be, who would be their customers and what their customers wanted. He also did not ignore if their business contributed to society. This information was needed as it affected strategy.
Also needed were knowledge of events that had occurred that could affect strategy. He called these “business certainties.” Positive or negative, the certainties were important because of their potential impact. He combined certainties with recognition of company personnel and resources both available and lacking in the business, not ignoring ethical leadership, which he said would determine 50 percent of results, on any endeavor.
Increasing international competition was one certainty of importance which was often overlooked. For example, Drucker foresaw the demand for foreign automobiles in the US long before this occurred.
Drucker recognized that any strategy had to consider the answers to four basic questions:
Peter Drucker made it clear that the definite objective was what the business should be. This is why he devoted so much importance to defining it. You cannot get to where you are going until you know exactly what the desired destination is. An objective must be exactly defined and everyone in the organization must be committed fully to it.
Hope this is of some use for you Jabes Bwanga Wishing you success !