Analyzing the Role of Stakeholder Analysis in Strategic Decision-Making

Abstract

The role of stakeholder analysis in strategic decision-making has gained significant attention, particularly in the context of emerging economies like Pakistan. This study aimed to explore how organizations in Pakistan integrate stakeholder analysis into their strategic decision-making processes. The research utilized a qualitative approach, collecting data from semi-structured interviews with key decision-makers across various industries, including manufacturing, services, and retail. Secondary data from academic journals, industry reports, and company records further supplemented the primary data. Thematic analysis was used to identify key patterns, strategies, and challenges faced by organizations when incorporating stakeholder perspectives. The findings revealed a varying degree of stakeholder engagement across industries, with the manufacturing sector showing more structured approaches compared to services and retail. The study concludes that while stakeholder analysis plays a vital role in strategic decisions, there is a need for more structured and systematic approaches, particularly in the service industry. The research provides insights into the practices of Pakistani organizations and offers recommendations for improving stakeholder engagement and decision-making frameworks.