Stakeholder management supports strategy by:

1. Identifying Stakeholder Needs and Expectations: Effective stakeholder management begins with identifying and understanding the diverse needs, expectations, and concerns of stakeholders who are impacted by or have an interest in your organization's strategy.
2. Engagement and Communication: Stakeholder management involves ongoing engagement and communication with stakeholders to build relationships, foster trust, and solicit feedback. By maintaining open lines of communication and actively involving stakeholders in the strategy development process, organizations can gain valuable insights, generate buy-in, and ensure that strategic decisions are informed by diverse viewpoints.
3. Managing Expectations and Resolving Conflicts: Effective stakeholder management involves proactively managing expectations and addressing conflicts or concerns that may arise among stakeholders. By actively listening to stakeholders' feedback, addressing their concerns, and seeking mutually beneficial solutions, organizations can minimize resistance to change and build consensus around strategic priorities.
4. Building Support and Alignment: Stakeholder management helps build support and alignment for the organization's strategy by engaging stakeholders as advocates and champions for strategic initiatives. By involving stakeholders in decision-making processes, communicating the rationale behind strategic choices, and highlighting the benefits of the strategy, organizations can inspire confidence and commitment among stakeholders, driving collective action towards shared goals.