Developing a framework for the improvement of stakeholder management plans

Blessing Dirani, Ranzi Mazenge Rusike, David Damiyano and Josphat Nyoni
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Blessing Dirani: Women's University in Africa

International Journal of Research in Business and Social Science (2147-4478), 2025, vol. 14, issue 7, 108-125

Abstract: The study aims to develop a framework for stakeholder management planning to guide entities in using holistic structured and tailored approaches that effectively guide stakeholder management. The study was inspired by perceived inadequacies of current frameworks to provide actionable solutions to stakeholder management planning. The study is underpinned by pragmatism and involves mixed methods research consisting of quantitative and qualitative approaches. A stratified random sampling method is used with the target population being 55 companies listed on the Zimbabwe Stock Exchange covering the period 2019-2023. The theoretical framework was anchored on the stakeholder theory by Edward Freeman (1984). Questionnaires (n=215) are analysed using SPSS version 26 while 12 semi-structured interview guides are analysed using NVIV0 version 14 with 10 local corporate governance practitioners validating the framework. The Quantitative techniques used are Cronbach alpha, exploratory factor analysis, regression and ANOVA. Findings were that variables from the study namely the definitive / latent criteria, communication, engagement and collaboration sub-plans are sufficiently positively related to stakeholder management planning and several sub-themes emerged around them to produce a holistic framework of stakeholder management planning. The framework is expected to see the improvement of stakeholder management planning in practice. Key Words: Stakeholder Management Plan; Stakeholder Engagement Plan; Stakeholder Communication plan; Stakeholder Collaboration Plan; Definitive / Expectant / Latent Stakeholders

Date: 2025
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