Commercial negotiations involve a wider set of stakeholders than procurement, budget holders, and users.
Depending on context, directors, IT specialists, legal teams, regulators, or external partners may all be impacted. Ignoring them risks resistance or missed requirements. CIPS stresses stakeholder mapping tools (such as Mendelow's Matrix) to identify influence and interest levels, ensuring all relevant parties are managed appropriately in negotiation preparation and execution. Narrow stakeholder identification can undermine outcomes.
Reference: CIPS L4M5 (2nd ed.), LO 3.1 - Stakeholder identification and management in negotiations.