About the tool
With the use of the Stakeholder Value Mapping, you gain insight into how your circular strategy can be attractive for stakeholders. Through this, it becomes evident where the interests of your company and your stakeholder(s) are aligned, thus identifying a common ground.
The result of the activity will be an understanding of interests of current stakeholders (e.g. current value captured, value missed/destroyed/surplus/absence and value opportunities).
How to apply the tool?
Step 1: Define the current situation and the new circular value chain
The current situation is the starting point for this analysis; the new circular value chain is the value chain needed for implementing the (set of) circular strategy(s) you are exploring.
Step 2: Transfer the most important stakeholders from the Business Ecosystem Map
Remember to add new stakeholders such as the environment and society. Use the “. . .” category to place stakeholders that do not fit anywhere else.
Step 3: Identify current value captured
For the current situation, identify what your company provides the stakeholders with. These can be tangible and practical things, such as money, goods or services, opportunities to innovate, and business continuity; or intangible, such as enhancement of brand value and knowledge sharing.
Step 4: Identify pain points and latent needs
For the current situation, identify value missed/ destroyed/ surplus/ absence. These are things your company provides but does not capture value from, negative outcomes that are generated, value that is provided above the needs of stakeholders, or value that stakeholders want but that is currently not provided.
Step 5: Identify stakeholder value opportunities
For the circular strategy, consider how the value missed/ destroyed/ surplus/ absence can be translated into an opportunity. What can you offer them that will excite and motivate the stakeholders to become part of your circular value chain?
Step 6: Identify who risks ‘losing out’
Mark these stakeholders with a sticker or other mark. How will this stakeholder respond? Does the reaction need to be managed? Can they be offered something else to compensate for the loss?
When to apply the tool?
The Stakeholder Value Mapping tool should be used in the analysing phase and help in defining what value the circular transition has for the different stakeholders.
The Stakeholder Value Mapping is one of the tools presented in the CIRCit project to support various circular value chain configurations, seeking innovation through stakeholder collaboration (WB6). Read more about the results of this focus area, explore other tools which can help in Collaborating and Networking for a Circular Economy and download the inspiring workbook here.