Stakeholder and Account Management

This presentation provides an overview of the NACWS 2018 event and explains the concept of stakeholder theory. It identifies the key stakeholders of NACWS and describes their needs and interests. The presentation also discusses the power/interest matrix and its application to the NACWS event.

STAKEHOLDER AND
ACCOUNT
MANAGEMENT

Outlining aim of initiative and overview of NACWS 2018 event
 This is the 4th Annual National African Caribbean wedding show which took place on 7th
October 2018 as organised through MIH media.
 This is the fastest growing event along with organiser of pop-up show which brings
affordability and quality to savvy customer.
 This wedding and lifestyle show is place where one could find that waiting experience is truly
amazing. In the similar aspect, award winning vendors along with suppliers of first class gives
groom and brides with quality and peace of mind.
 Furthermore, carefully chosen and vetted wedding professionals would be there for answering
the customer's questions, discussing ideas and helps for mapping vision of big day.

Contd….
 NACWS 2018 is where brides of multi-cultural brides meet with multi cultural vendors and ensures that nothing
is lost in translation.
 One could spend day with vetted vendors along with amazing blend of exhibitors and gives wedding plan about
unfair advantage.
 While for observing the finishing touch at start of process of wedding planning, NACWS 2018 would give what
one is looking for.

PART B: Stakeholder analysis

Explaining concept of stakeholder theory
 Stakeholder theory is conceptual framework of business ethics along with organizational management which
would address ethical and moral values.
 This theory holds stakeholder of company which considers about anyone is impacted through organization
along with their workings.
 This theory gives suggestions that objective of business is for creating much value with possibilities of
stakeholders.
 In the similar aspect, to attain success and to be sustainable over time, then executives must keep interests of
suppliers, customers, employees, shareholders and communities aligned and going in similar direction.

Contd…
 That view is in opposition to long held shareholder theory proposed through Milton Friedman in
capitalism, the stakeholders a company must care about its shareholders and bottom line.
 Generally, innovation keeps these interest aligned is very important compared to easy strategy of
trading off stakeholders interest against each other.
 Henceforth, through managing for executives, stakeholders would also create possible values for
purpose of shareholders and other financiers as well.

Identifying minimum of five key stakeholders of NAWCS and describing
stakeholders needs and interest
 Investors: These are the major stakeholder of NAWCS 2018 as they require leader to maintain
their promises, developing a compelling growth strategy, aligning core competencies which ensure
that committed people would deliver the premises. With this context, investors reward business
with high confidence level in the future which translates market value of this Annual National
African Caribbean wedding show.
 Communities: They are in need of leaders for building this event as socially responsible and how
they treat environment and way to serve larger community.
 Customers: these are in need of leaders who builds compelling services and products so that they
could trust and when they perform, customers would give share of wallet.

Contd…
 Government: These are stakeholders who could devise, enforce and pass laws and regulations that
might either fulfil objectives of effort or could directly cancel them out. This also comprises
regulators as they are need of leaders for governing themselves as per high ethical principals and in
consistent manner with legal and professional standards of Annual National African Caribbean
wedding show in both place London and Birmingham.
 Promoters: In this event, they are very important as they are one who really make effort to go, and
they care about invested in particular issue. In case, they are positive, they are required to be
involved and cultivated, While, paying attention to their opinions, and acceding about
appropriateness as if ideas are not acted on to ensure that they know why and which alternative
seems to better course. This is with possibility for making team's integral part.

Explaining Power/Interest matrix
 This is a simple tools which helps in categorising stakeholders of project with increment in power
along with interest in project.
 In simple words, this lays emphasis on key stakeholders who could make or break project as well
as this helps for prioritization of stakeholder.
 It directly pertains to stakeholders interest in project and with its application, one could identify
stakeholders for managing stakeholders to closely manage and stakeholders for considering
minimum effort.
 Moreover, it helps to channel time and energy on stakeholders to have most interest and power in
success of project.
 This tool could be used to know that how to work strategically with stakeholders and its degree of
difficulty in easy and moderate for experience users and facilitators.

Contd…
 This leads to assess feasibility of activity of intervention and shows that intervention staff which stakeholders
must be trying for empowering and vice versa. This tool could be described as it maps power and influence that
stakeholders have on an intervention and identifies that which stakeholder must be laid focus on undertaken
actions.
High power Keep satisfied Manage closely
Low power Monitor Keep informed
Low interest High interest

Carrying stakeholder analysis with application of Power/Interest
matrix and influence on NAWCS event
 High power, high interest: Fully engaged as these stakeholders spend most effort and time to
manage and organise event.
 High power, low interest: Bored over communication, as these people satisfied but not at high
extent.
 Low power, Low interest: Keep in contact with these people but does not bore with excessive
communication.
 Low power, high interest: These stakeholders are adequately informed, communication from time
to time to ensure that no major issues cropping. These people could be helpful especially with
details of interventions.

Contd..
High power Investors Government
Promoters
Low power Communities Customers
Low interest High interest

REFERENCES
Books and Journals
Rose, J., Flak, L.S. and Sæbø, Ø., 2018. Stakeholder theory for the E-government context: Framing a
value-oriented normative core. Government Information Quarterly. 35(3). pp.362-374.
Online
Power grid matrix. 2019. [Online]. Available through <https://www.brighthubpm.com/resource-
management/80523-what-is-the-powerinterest-grid/>.
The national Africa & Caribbean show. 2018. [Online]. Available through
<http://www.nationalacweddingshow.com/>.