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Psychology of Stakeholder Management

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How psychology can be leveraged for Stakeholder Management

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Psychology of Stakeholder Management

  1. 1. Psychology of Stakeholder Management Presentation made at PMI Conclave – Mumbai – Jan 2015
  2. 2. WON TOP HONORS PMI National Conference – Sept 2014
  3. 3. 1. Themes of Psychology 2. Recommendations for PMs
  4. 4. Themes of Psychology Influencing Negotiation Alignment
  5. 5. Influencing Dr. Robert Cialdini Six Principles
  6. 6. Influencing -Reciprocity Iskon disciple would give flower as a gift Another disciple standing next would ask for a donation. It was hard to then refuse a smiling request for a small donation People tend to return a favor How a $0.05 flower can bring in thousands in revenue ?
  7. 7. Joshua Bell and the Subway Experiment Influencing -Authority Played as an incognito at the subway station and no one paid attention Collected $52 from passersby Earned considerably more playing the same repertoire at a concert Need to establish credentials to Influence
  8. 8. Influencing –Social Proof Asch Conformity Experiment Individual's own opinions are influenced significantly by those of a majority group To influence use the horizontal peer power
  9. 9. Negotiation Leigh Thompson How to effectively Negotiate ? Focus on needs not positions Create positive environment
  10. 10. Negotiation - Needs Vs. Positions Position What is required Need Why it is required Address Needs and not Positions
  11. 11. Negotiation - Create positive environment If negotiators see positive outcomes, they tend to be more inclined to reach agreements
  12. 12. Alignment of Stakeholders Realistic Conflict Theory provides insights into achieving Stakeholder alignment Robert Cave experiment
  13. 13. Alignment of Stakeholders Avoid competition for the same goals Have Super Ordinate goals Develop Shared goals Muzafer Sheriff
  14. 14. Psychology for managing people dimension
  15. 15. - Influence: The Psychology of Persuasion By Robert Cialdini - Harnessing the Law of Reciprocity - http://www.projectmanagement.com/blog/Voices-on-Project-Management/7945/ -http://www.blcopywriting.com/what-the-hare-krishna-can-teach-you-about-marketing - http://www.blcopywriting.com/what-the-hare-krishna-can-teach-you-about-marketing -Law of Authority - Joshua Bell - http://en.wikipedia.org/wiki/Joshua_Bell - The Mind and Heart of the Negotiator by Leigh Thompson - Focus on Needs not Positions - http://web.mit.edu/negotiation/www/NBivsp.html - Realistic Conflict Theory -http://en.wikipedia.org/wiki/Realistic_conflict_theory -Robbers Cave Experiment -http://www.simplypsychology.org/robbers-cave.html References
  16. 16. Videos Influence : Science of Persuasion - https://www.youtube.com/watch?v=cFdCzN7RYbw Social Proof - ASCH experiments https://www.youtube.com/watch?v=DQ7r8iy8r6A Authority – Joshua Bell Washington Post experiment https://www.youtube.com/watch?v=LZeSZFYCNRw

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