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

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