Many Scrum Masters have to deal with missing Product Owners that it is really nightmare but there is a worse situation. What am I talking about it? Well, the worst situation is when the Scrum Master has to chase the Product Owner and stakeholders as well.
There is a huge difference between the role of stakeholders in Waterfall that is in the beginning of the project whereas in Agile project they have to play during the whole project. As you see the stakeholders need to invest more time and effort in the last option. To get their commitment during the whole project you (as Scrum Master) has to chat with them showing what is Scrum and where it is necessary their assistance and help.
Vision of the project
Every project begins with the vision from any stakeholder so they have to be in charge to build The Product Canvas. The Product Canvas displays the key pieces of information necessary to create a new product.
The canvas is designed so that the information flows from left to right starting with the target users and customers and the needs to be addressed. This puts the user at the centre of the development effort, and it ensures that you develop a product that is beneficial and desirable.
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During the kick-off of the Agile project that is called Inception the stakeholders have to present the Product Canvas to the Scrum team so they know who will develop the product. On the other hand, team members will know to whom are developing. After that you will realise that many stakeholders got a full commitment because they were presenting their Product!!
During the Sprint Review the stakeholders have the chance to give their feedback and check what is going on with the product. Indeed, they will get an increment of the product each two weeks (assuming the Spring last it) so they will be able to get the approval or express their claims.
To conclude, the full participation of each stakeholder is very critical in every project because they will get the benefits to their commitment.