ABSTRACT

The purpose of Chapter 6 is to discuss identifying stakeholders for political risk management. Stakeholders are people and organizations having interest in and will be impacted by political risk management. Specifically, the chapter discusses the role of the chief risk officer and internal audit in respect to risk management and political risk management and their relationships with the Board of Directors and a risk management committee or equivalent. It also presents a 4 by 4 chart to identify the different types of stakeholders as well as the importance of identifying their degree of risk attitudes and tolerances. Additionally, the chapter discusses the importance of performing a business impact analysis. It discusses key points, benefits, and challenges when identifying key stakeholders in a global supply chain. It also provides an approach that employs techniques like the Delph technique. At the end of the chapter is a list of questions to guide the reader when developing and deploying the process.