Why Many Are Moving Away From The Term ‘Stakeholder’
Welcome back to another Innovation Hub blog! Today we will explore not only a new tool but the new language surrounding it. Let’s take a look at the Intrest Holder Map and why the business industry is moving away from the term “stakeholder”.
Shifting the Language: A More Inclusive Approach
You might be familiar with the term "stakeholder" often used in project management and business planning. While previously common, many have moved away from this term due to its historical connotations. The term "stakeholder" has roots in the colonization of Indigenous Peoples in Canada, where it referred to ‘settlers’ claiming land by using wooden stakes. These decisions to ‘claim’ land happened without the input or knowledge of the people who were affected by the decision, the Indigenous Peoples whose land it was. This created ironic conditions for the origin of a word meant to speak about including people who are affected by a decision or project during the planning process.
To foster a more inclusive environment, the term "Interest Holder" has been adopted which more accurately reflects the diverse connections within a project. "Partner" is another strong term to consider, but it often suggests a more active and collaborative role. The Interest Holder Map encompasses a broader range of connections, including those who may be less involved than a project partner or sponsor.
Building a More Inclusive Future
At the Innovation Hub, we believe in using language mindfully and fostering a more inclusive environment. By understanding the historical context of words, we can create a more respectful and equitable space for all innovators. Spaces like these foster true innovation and collaboration because they make every voice heard. The Innovation Hub is always taking steps to provide a welcoming and open space for everyone within our community.
Identify Your Champions: What is the Interest Holder Map?
Our newest tool visualizes project planning by helping you identify the involvement level of everyone connected to your project. We call these individuals and groups Interest Holders. Interest Holders can be anyone who can be impacted by, or contribute to, the success of your project. By understanding these connections, you can build a strong project team and ensure your project is effective.
When planning your project, consider key questions like:
- Who might be affected by this project?
- Are there similar projects that have been attempted before?
- Who can provide valuable expertise at different stages?
The Interest Holder Map helps you answer these questions and helps to identify the people who can play a crucial role in your project's success. Interest Holders strengthen a project through support and providing opportunities. They help to ensure a smoother project journey as their insights can help you anticipate and navigate potential roadblocks.
How to use this tool
After identifying who your Interest Holders are you will then plot them in the chart. Ranking both their level of interest and their ability to influence the project. By doing this it will allow you to understand how these Interest Holders can affect your project moving forward. This then allows you to understand how to interact with each party and what they can bring to the project to ensure its impact.
Ready to Map Your Success?
We invite you to explore the Interest Holder Map and see how it can empower your next project. Visit our website to check it out and explore how the Interest Holder map can elevate any project you may be working on.
“You have a responsibility to make inclusion a daily thought, so we can get rid of the word ‘inclusion.”