National Portrait Gallery: Overview, Objectives, Sustainability, Financial Assistance, Corporate Governance

This report provides an overview of the National Portrait Gallery, its strategic objectives, sustainability practices, financial assistance, and corporate governance. It also discusses the key stakeholders, their interests and power, and current issues impacting them.

ASSESSMENT
COURSEWORK BRIEFING
DOCUMENT WITH
NATIONAL PORTRAIT
GALLERY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
Overview of National Portrait Gallery........................................................................................3
Strategic objectives of NPG........................................................................................................3
Sustainability by NPG.................................................................................................................4
Financial assistance of NPG........................................................................................................4
Corporate governance by NPG...................................................................................................5
Evaluation...................................................................................................................................6
TASK 2............................................................................................................................................6
Definition of stakeholders:..........................................................................................................6
Mapping the key stakeholders of the National Portrait gallery:.................................................6
Stakeholder powers and interest theory:.....................................................................................7
Evaluating the interest and power of the Key stakeholder..........................................................7
Identifying various current issues which impact interest and power of stakeholders.................8
Conclusion:.................................................................................................................................9
CONCLUSION ...............................................................................................................................9
REFERENCES..............................................................................................................................11

INTRODUCTION
Hospitality is a large sector and under this museum is a large sector which includes the
artefacts and ancient things which are of interest to the people travelling to new place. The
present report is based on the National Portrait Gallery which was founded in the year 1856. The
present report will start by outlining the overview of NPG and its objectives. Along with this the
sustainability and financial assistance and the corporate governance of NPG. In next part the
stakeholder of NPG will be highlighted and along with this the interest and power of stakeholder
will be highlighted. In the end current issues impacting the interest and power of stakeholder will
be discussed.
TASK 1
Overview of National Portrait Gallery
The NPG that is National Portrait Gallery was founded in the year 1856 in order to create
and display all the different paintings, portraits and other collection and artefacts in order to
display it to the people coming to the place. The NPG includes approximately 12636 portraits of
famous people of British history. Out of this amount of portrait around 4120 are different
maintaining, miniatures, sculptures and other related product (Race, 2019). The aim of gallery is
to find the different ways of sharing the collection of all the paintings and sculptures to the art
lover. Earlier the gallery was situated in Westminster, South Kensington and Bethnal Green. This
gallery presently is situated London at St Martin Place.
The major aim of this gallery is to bring the history of country in the life of people in way
of displaying in form of exhibition and publishing it in magazines and many others form. The
company is a wholly owned subsidiary and has board including 6 directors, that is 1 trustee, 2
independent non- executive directors and 3 gallery senior executives. The current trends are like
increasing interest in the artefacts, also some people are treating museum as place for business
meetings, use of augmented reality and virtual reality. Also, another trend is like shared history
of different places and countries, data driven museum decisions and many others.
Strategic objectives of NPG
The strategic objectives are the aim or the vision for which the company is working.
These are the end result which the company need to attain in any condition. These objectives
provide for the direction to the employee that in which they have to work and to plan the way in

which they can attain the work to be done (Manville, 2017). The strategic objectives of NPG are
listed in the following points-
 To enhance the understanding and the engagement of collection and art of different
portraiture.
 Another objective is to develop the collection with help of creating of opportunities for
commission and acquisition along with improving conservation and care.
 One more objective is to widen the range of consumers for NPG.
 Another major objective of NPG is to make the gallery a national hub for the exchange of
different ideas and expertise relating to portraiture and skill sharing network across
London.
 One more major strategic objective of company is to create a digital presence in order to
connect, engage the audience and to connect all the teams with a digital activity as core
part of working.
Sustainability by NPG
In this highly competitive world it is very necessary for the companies to maintain and
have sustainability issues to a great extent. This is necessary because of the reason that if the
companies will not optimally use the scarce resources then this will impact the working of the
company. Managing sustainability is very necessary because of the reason that the competition is
very high and the resources are very low and for becoming successful it is necessary for NPG to
have good and sustainable use of all scarce and limited resources. Thus, for NPG it is necessary
to maintain sustainability and the ways in which the resources can be optimally used and can be
saved for future consumption (Steele and et.al., 2016). The sustainability program adopted by
NPG is try to reduce support from government and other major sources of funding so that NPG
can also try to find different sources form which they can generate income and revenue. Another
sustainable practice being used by the NPG is simplifying the process of registration and
payment and promoting the opportunity for venue hire and loans.
Financial assistance of NPG
It has been analysed that National Portrait Gallery gets their fund from various sources
such as banks, venture capitalist, bank overdraft and loan. They also earn from visitors who are
visiting the art gallery. It has been analysed that 1.1 million visitors have visited National Portrait
Gallery in year 2017-2018. Revenue has also been granted from other sources and also they have

earned from their ongoing operations. general capital expenditure grant used to support the
purchase and maintenance of fixed assets of £253,000 (Perry, 2018). They have also earned from
trading, admissions and fund raising procedures. It has also been analysed that Gallery has
earned from their fund raising policies which they have implemented. They raise from general
fund, the Deferred project fund and the inspiring people fund (Perry, 2018). By these fund
raising activities National Portrait Gallery has been engaged in enhancing experiencing of
visitors. They also use these funds for social policy which provides wider public benefit. This
has assisted them in laying good impression in front of public. During the year there were no
failures of compliance and the Gallery received no complaints about its fundraising activities.
They are working towards social benefits and more public aspect.
Corporate governance by NPG
The framework of corporate governance of NPG is done and managed by the board of
trustees of company. This board is responsible for managing the whole working of the company
in an effective manner. This board collectively works in direction of safeguarding and promoting
the gallery and also considering the interest of the public (Goodman, 2018). The junior
executives report to the senior executives in order to maintain the corporate governance at NPG.
The board includes all the different types of executives and also non- executives within the board
of company.
The main rules to be followed by the board in maintaining the corporate governance is to
follow all the steps and measures in ethical and correct manner. Also, the working of the
company must not harm any of the social issue and moral values of the people and employees
working in NPG. Another measure taken by the board for maintaining corporate governance in
NPG is to protect the rights of all the stakeholders of company and to cater to their needs and
demand of all stakeholders (Hwang, 2017). One more measure for managing corporate
governance is to have information transparency among each and every employee and the
investor and all other stakeholder. All these rules and different measures of corporate governance
are being followed by the employees and board of directors in order to maintain good corporate
governance within the working of NPG.
Evaluation
From the above study it has been summarized that national Portrait Gallery has been
inspiring people. They have been involved in doing improvement in fabric and interior of

heritage related to building. Gallery has also faced increased opportunities for generating
income. They have been working towards achieving social objective and laying good impression
in front of people.
TASK 2
Definition of stakeholders:
Stakeholder refers to such person which carry some interest or concern in the particular
things and also through undertaking such activity, it results in gaining major benefits to them.
Thus, stakeholder can be person, organization or group of person who carry the liability to earn
profits though showing interest in the business or also investing in particular things to gain major
advantages (Haley and Wilson, 2018). In respect of any organization, the stakeholder can be
internal or external and also they carry the charge to take any action which results in sustaining
more growth to the business.
Mapping the key stakeholders of the National Portrait gallery:
In context of National Portrait Gallery, the stakeholder which are examined as
Local and international visitors: In this the integrity which is to be determined through visiting
the museum and also examining the facts behind establishing such museums.
Employees: As they are essential in the museum regarding managing the overall needs of the
customer which are raised during visiting the museums.
Investors: Through their investment in the museum regarding managing the resources, they are
sharing some interest in the particular field (Rhodes, 2019).
Trustees: They mainly carry the rights regarding managing the integrity of the museum through
managing the money which is needed in examining and changing the particular things.
Ministry of Tourism: They mainly carry the charge regarding managing the tourism in the
country and through these aspects they had to undertake various activities.
Managers: They mainly carry the responsibility to manage the employees and also find that
resources are to be managed in accurate manner.
Suppliers: They are the important stakeholder of the museum as the majorly carry the charge to
supply quality products or services to the museum.

Stakeholder powers and interest theory:
In these aspects, by applying the stakeholder theory in this aspect, resulting examining
the stakeholder interests and power regarding attaining to particular interest. The theory which is
applied is relating to the Mendelow's matrix theory in which the level of interest which the
stakeholder is carrying is examined and the power which they used to judge the particular thing
is also stipulated (Bin Mohd Isa, 2017). The main purpose of this theory is that it helps in
identifying the high power, the highly interpreted person in the particular activity and also carries
the proper mapping procedure to identify the needs and power of the stakeholders.
LOW High
Low A
Employees
B
National / International
Visitors
Managers
High C
Ministry of Tourisms
Suppliers
D
Trustees
Investors
Through this manner, the stakeholder are to be treated accordingly as per the chart
mentioned above, if they carry less impact but high power are with them, than their needs are to
be taken care through working according to their directions (Goodman, 2018). But in case of
power are less but carry equivalent or high interest in such manner, they are to be treated high as
they are such person with whom the museum gets more benefits and also their reputation is to be
enhanced in the country.
Evaluating the interest and power of the Key stakeholder
Stakeholders Power Interest
Local and international visitors Visiting to such places and
spending money in viewing
the ancient things.
They carry the interest to see
the sculpture and then gain
knowledges through
appointing the tourist guide to
instruct them about the

particular object.
Employees They carry the power to handle
everything and also undertake
any task by themselves
(Hwang, 2017).
Their interest is to manage the
needs of the customer and also
provide them accurate
resources which they are in
needs of them.
Managers The power is to manage the
things and also boycott any
person when they feel that they
are harming the property.
Their interest is to fulfil the
needs of the customer so that
they can retain their interest in
longer way.
Ministry of Tourisms Their power is to decide the
timing of museum and also
various changes which the
museum can intended to gain
the interest of customer.
Their interest is to bring more
visitors towards the museum
so that they can enhance their
reputation of the country
through promoting the
integrity of the museum
(McPhail, 2019).
Suppliers They carry the power to
provide quality products and
change the prices when they
face any raise in price factors.
Their interest is to provide
quality product so that they
can enhance the reputation in
better way.
Investors Their power is to be stopped
the investment when they feel
that money is not appropriately
used.
Their interest is to gain more
advantages though getting
good return on the money
which they invested.
Identifying various current issues which impact interest and power of stakeholders.
Local and international visitors: One of the key challenge associated with the local and
international visitors within National Portrait gallery is the change in there preference and needs
related with type of collection they expect at the art gallery.

Employees: Managing diverse cultural issues and communication and language barrier in
turn is considered to be as one of the major issue. Competitors who has better collection in turn
reduces the number of visitors. This in turn largely affect the power and interest of stakeholders
within National Portrait gallery.
Investors: Loss of money, lack of capital, poor investment skills, etc. in turn are
considered to be as the key issues of investors which in turn influence the power and interest of
stakeholders within National Portrait gallery (Andriof and et.al., 2017).
Trustees: The key issue in turn faced by the trustee is mainly related with the increase in
the number of legal proceedings, laws and regulations. Complying with the frequently changing
policies in turn largely affects the power and interest of stakeholders within National Portrait
gallery.
Managers: One of the key challenge associated with the managers within National
Portrait gallery is that, they have difficulty in collecting the best piece of art and managing the
interest of various stakeholders within the art gallery (Jones, Wicks and Freeman, 2017).
Suppliers: One of the key challenge associated with the supplier is associated with the
issues related at the time of transition of various goods and services. Increase in number of
suppliers within art industry in turn is also a major which influence the power and interest of
stakeholders within National Portrait gallery.
Conclusion:
Hence, it has been concluded that, stakeholders within the organization in turn plays a
very crucial role and in turn is largely influenced by the various set of business operations. Local
and international visitors, Employees, Investors, Trustees, Managers and Suppliers are
considered to be the key stakeholders of National Portrait Gallery. It has been summarized that,
the key issue associated with visitors are cultural and preference difference. Issues faced by the
employees are diverse cultural issues and communication and language barrier in turn affects the
power and interest of National art gallery.
CONCLUSION
From the above conducted study it has been concluded that, National portrait gallery is
first art collection gallery which was opened in the year 1856 in UK. It display all the different
paintings, portraits and other collection and artefacts in order to display it to the people coming

to the place. The strategic objective of the National portrait gallery is to develop the collection
with help of creating of opportunities for commission and acquisition along with improving
conservation and care. It has been summarized that, National portrait gallery works in a
sustainable and ethical manner where they focus on reducing wastage and tends to protect the
environment. Moreover, it has been summarized that, Local and international visitors,
Employees, Investors, Trustees, Managers and Suppliers are considered to be the key
stakeholders of National Portrait Gallery.

REFERENCES
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