Stakeholder and Account Management for Notting Hill Carnival

This report delves into stakeholder analysis and account management within the context of the Notting Hill Carnival, a major event held annually in London. It begins with a background of the carnival, highlighting its history and significance, and then explores the concept of stakeholder analysis, emphasizing the identification of key stakeholders and their interests. The report identifies ten stakeholders, including the Royal Borough of Kensington and Chelsea, the City of Westminster, and various police and transport services. It then examines the power/interest matrix to analyze stakeholder influence and importance. Furthermore, the report investigates relationship approaches, particularly with the City of Westminster, emphasizing the importance of trust and loyalty. It discusses communication modes and the role of an account manager in fostering positive relationships. The report concludes by summarizing the key findings and implications for effective event management and stakeholder engagement.

Stakeholder and Account
Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1 ...........................................................................................................................................1
1.1 Brief background of Notting Hill Carnival...........................................................................1
1.2 Concept of stakeholder analysis............................................................................................4
1.3 Notting Hill Carnival ten stakeholders..................................................................................6
1.4 Interest of each identified stakeholder..................................................................................8
1.5 Importance and working of the Power/Interest matrix ........................................................9
1.6 Analysis of Notting Hill Carnival shareholder by power interest matrix..........................11
TASK 2..........................................................................................................................................12
2.1 Relationship approach with City Of Westminster .............................................................12
2.2 Ladder of loyalty and current relationship stage between Notting Hill Carnival and City
Of Westminster.........................................................................................................................14
...................................................................................................................................................14
2.3 Importance of Notting Hill Carnival organisers constructing trust and loyalty, with the
City Of Westminster.................................................................................................................15
2.4 Modes of communications and their objective with the message and medium..................15
2.5 How the role of the account manager will assist in developing relations with City Of
Westminster...............................................................................................................................16
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Stakeholder analysis and Account Management is the process of analysing the
stakeholder in terms of power and interest. Notting Hill Carnival is the event organised in the
London which is held on the streets for two days in the month of August. It is the second
largest event held in the world where more than one million people visit. The report includes
interest/power matrix which help them to identify the interests and power of each
stakeholder. Relationship approach is also included in the report which indicate that
communication, trust and loyalty is important for any event.
TASK 1
1.1 Brief background of Notting Hill Carnival
Notting Hill Carnival is the event organised in the London which takes place annually
and which is being held since 1966. The event is orgamised on the street of Notting hill in the
royal Borough of Kensington and Chelsea. This event is held in the month of August for two
days, led by the British West Indian community which attracts more than one million people
on annual basis (Wicks and Harrison, 2017). Their main aim is to make the event one of the
world largest street festival and the most important function in the British culture. In the year
2006, this event was voted by the public as the icons of England.
The event is organised mostly on Sundays and Mondays and called as the second
largest event in the world after Rio DE Janeiro Carnival in Brazil. The event was firstly
organised in the It was first taken place in the January 1959 in indoors at the Pancras Town
Hall and which was advertised by the BBC.
Budget
The budget for organising the event is $10,000 and these is distributed into several activities,
that are as follows:
1. Royal Borough Of Kensington And Chelsea: Required $4000 because it is the place
where event have organised.
2. British Transport Police: $500 is required to take care that any mis-condut is done
during the transportation.
3. St. John Ambulance: It need $500 to take care of the people.
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4. City of Westminster: $1000 required to serve toilets to the public, proper management
of the street trading sites, stop unlicensed operation, removing waste and rubbish from
the street
5. Metropolitan Police Service: $400 is needed to take care that event will finish without
any criminal conduct.
6. Transport of London: $600 is required so that proper transportation is facilitated.
7. London Underground: It requires $300
8. London Buses: $700 id needed to facilitate transportation in local area.
9. London Ambulance Service 1000
10. London Fire Emergency and Planning Activity: $100 required for any emergency like
fire.
11. Food stalls: It requires $500 so that food is served to the event members and
participants.
12. Accommodation: $400 is needed.
Sources of finance: There are different sources of finance from which the capital can be
raised which includes internal and external source, that are as follows:
Internal sources
 Retained profit: It is some profit which is kept with the organisation, rather than
paying to the stakeholder. It is regarded as the important long term source of finance.
Notting Hill Carnivalis the event that take place year, so they can keep some percent
of earning as reserve and invest that money when the event is again organised.
 Sale of assets: Notting Hill Carnival can sale their assets which is useless for them
and selling of assets will serve as capital for future investment.
 Share capital: Notting Hill Carnival can issue their share to the public or to their
stakeholders which help them to raise capital.
External source
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 Bank overdraft: It is the loan arrangement under which bank extend the credit to the
maximum amount against the current account customer where check of cash
withdrawn can be made.
 Bank loan: It is most common form of loan by which long and medium term loan
which can be taken by the bank and this is made for the fixed period such as 3,5, 7
years. Notting Hill Carnival can take medium term, loan which help the to continue
their operations.
 Ticket sales: It can be done by arranging tickets for the participants of the event and
taking money from the people who want to attend the event. Notting Hill Carnival
can do ticket system by which find or capital will be arranged.
 Stroll hire: In the event, there are carious strolls, such as for food, exhibition,
accessories etc. Notting Hill Carnival give that stroll on hire which help them to
arrange funds
 Sponsorship: It is the act of supporting any event on the base of financially through
the provision of products and services. Notting Hill Carnival take sponsorship from
various organisation, by this was they can raise funds and capital.
Pricing of the event
 Discount pricing: It is the pricing strategy where the organisation sell their products
and services at the low pricing. Notting Hill Carnival can use discount pricing while
selling the tickets, foods, accommodation which help them to attract large customers.
 Price penetration: It is the pricing strategy where the organisation keep prices low
when they launch new products. Notting Hill Carnival can use this pricing strategy
when they are arranging new activity in the event.
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Illustration 1: Notting Hill Carnival event
(Source: Notting Hill Carnival event, 2016)
The event’s mission is to foster the innovative development and enhance the diverse
artistic characteristic. Thus, they want to transform the perception of London Hill Carnival
Culture Nationally, locally and internationally. Their mission statement states that they want
to use all the arts of carnival artistically and collaboratively as the catalyst to serve education,
engagement, entertainment, integration, inspiration and artistic excellence (Helmig and
Ingenhoff, 2016).
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Illustration 2: Mission of Notting Hill Carnival event
(Source: Mission statement of Notting Hill Carnival event, 2015)
The event manager does not have the local authority or permission so the local police
is involved initially where their main aim is to prevent any disputes and problems. In 20th
century the event was developed organised by the two women that are Claudia Jones and
Rhaune Laslett and these two ladies was inspired by the terrible racial tension on the 1950's.
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Illustration 3: Event of Notting Hill Carnival event
(Source: Claudia Jones The powerful lady, 2016)
1.2 Concept of stakeholder analysis
To run any organisation, whether it is small or big, different stakeholders are needed
such as customer, shareholders, suppler, distributor etc. Different activities are need to be
organisedsuch as procurement of raw material, production of inventory into finished goods,
making of budget, distribution of goods and services which have to be achieved by the
different stakeholder. Individual and group which achieve different activities are the
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stakeholder of the company. (Helmig and Ingenhoff, 2016. These individuals have different
interest in the firm which helps the management to analyse them and find out their interest.
Stakeholder analysis is the process to resolve conflicts and management of project. it helps in
administrating the business which have impact over the decision making of the different
parties in the organisation. The information is collected by the company which helps them to
analyse the interest of different stakeholders of the firm. Their interest must be addressed in
the policy, plan, action and program. Stakeholder analysis is the key function for the
company. This analyse is mostly done in the preparation phase of the project to find the
attitude of the stakeholder for the necessary changes. It can be done once or regularly in order
to find out the changes in the stakeholder’s perception and attitude over the time period.
There are various ways by which different stake holders can be identified (Wicks and
Harrison, 2017). These are
Knowledge based: In this method, proper research is made and various managers and top
executives are grouped together so that they can analyse all the people who have interest in
the organisation.
Personal interview: It is mostly done by the company to find out their position and
performance in the market. They interview individuals because they want to involve interests
of different stakeholders.
Personal experience: Different people have experience from the past projects that they have
done with the help of that they can identify different stakeholders involved in the project.
Agreements: In several conditions, a company need to have agreement with other firm, in
such cases that company become the stakeholder of the other organisation. If a company
agrees to supply raw material to the other company, in that case supplier becomes the
stakeholder to the firm through agreement (Helmig and Ingenhoff, 2016.
In stakeholder analysis, organisation first need to identify who are the stakeholders for
the company and the make a list of them who can affect the environment and influence the
decision making of the venture. The stakeholders may include government, lenders,
suppliers, customers, co-workers, executives, community, distributors etc. After finding the
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stakeholder, their interests are identified and then organisation make policies in such a way
that they can fulfil the needs of their related parties.
1.3 Notting Hill Carnival ten stakeholders
The ten stakeholders of Notting Hill Carnival are Royal Borough of Kensington And
Chelsea, British Transport Police, St. John Ambulance, City of Westminster, Metropolitan
Police Service, Transport of London, London Underground, London Buses, London
Ambulance Service and London Fire Emergency and Planning Activity.
Royal Borough Of Kensington And Chelsea: It is the second smallest district in the
England which is most dumbly populated in the UK which includes the area of Kensington
and Chelsea. They do not organise the event but they facilitate the carnival. They find the
impact of event on the life of those individual who work and live in the Notting Hill.
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Illustration 4: Map of Kensington And Chelsea
(Source: Kensington And Chelsea, 2016)
City of Westminster: City of Westminster work closely with the London Notting Hill
Carnival. It is the council which serve toilets to the public, proper management of the street
trading sites, stop unlicensed operation, removing waste and rubbish from the street every
night and serve free garden and cleanliness in the basement after the event to the residents for
the carnival footprint.
British Transport Police: They are the cops who work while the Carnival starts and provide
proper and secure transportation to the public. They have arrested more than 400 individuals
in the Notting Hill Carnival and five were Injured in which three were teenagers. They take
care of public order offences, sexual offences, actual and grievous body harm so that these
kinds of activities shouldd not arise (Wicks and Harrison, 2017).
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Illustration 5: British Transport Police
(Source: British Transport Police, 2016)
Metropolitan Police Service: they are formerly known as Metropolitan police service and
informally called as Met, which is accountable for leading and coordinating on the UK
national counter tourism matters and give protection to the super senior and senior of the
British royal family as well as the members of the cabinet. They plan the event as soon as
possible and work together with the Notting Hill Carnival (Bonnafous-Boucher and
Rendtorff, 2016). Their planning focus on the designing the entry and exit key-points so that
they can able to prevent bottleneck (Helmig and Ingenhoff, 2016).
London Buses: There are numbers of people who visit Notting Hill Carnival event who need
proper transportation so as to attend the festival and can be able to go back to their places on
time. London buses provide such facilities with proper security and provide some guideline
which every visitor need to follow. Such as road close timing, tube and rail way transport,
bus timing around the event place etc. they also provide the travel map of the event.
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